[비즈한국] It has been confirmed that Oh Chi-hoon, Chairman of Daehan Steel084010, still retains ownership of land near the Gadeokdo New Airport site, which was previously at the center of a conflict of interest controversy.
Chairman Oh Chi-hoon purchased 1,488㎡ (approximately 450 pyeong) of land located in Daehang-dong, Gangseo-gu, Busan, in 2005. With the enactment of the Special Act on the Construction of Gadeokdo New Airport in 2021, the value of the land held by Chairman Oh is estimated to have risen significantly.
Gadeokdo New Airport was a key campaign pledge of former Busan Mayor Oh Keo-don. Chairman Oh Chi-hoon is the nephew of former Mayor Oh Keo-don. Because of this, claims were raised that Chairman Oh Chi-hoon’s purchase of land in Daehang-dong presented a potential conflict of interest. In 2021, former People Power Party lawmaker Yoo Seong-min criticized this on social media (SNS), stating, "As Gadeokdo New Airport was a signature pledge of former Mayor Oh Keo-don, the land purchase by the family of former Mayor Oh Keo-don cannot escape suspicion of speculation."
As the controversy persisted, it was reported that Chairman Oh Chi-hoon put the land on the market for an urgent sale. In March 2021, the office of People Power Party lawmaker Yoon Han-hong stated that Chairman Oh had listed the land for 3.5 million won per pyeong (3.3㎡). When Chairman Oh purchased the land in 2005, the price was 700,000 won per pyeong. This marks an approximate fivefold increase over 15 years.
However, the land did not sell. According to the real estate register, Chairman Oh Chi-hoon still owns the land today. In the meantime, political circles have been pushing for the project, including efforts to open Gadeokdo New Airport ahead of schedule.
Bizhankook contacted Daehan Steel to hear their stance on this matter but could not reach them. We also did not receive a response to our inquiries sent via email.