Kim Il-kwon Real Estate Issues Cloud Yangsan Mayoral Bid in South Korea

by Marcus Liu - Business Editor
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Yangsan Mayoral Election Heats Up Amidst Real Estate Controversy

The upcoming Yangsan mayoral election in Gyeongsangnam-do, South Korea, is gaining traction as a key battleground between the ruling and opposition parties. The candidacy of former Mayor Kim Il-kwon, considered a strong contender against current Mayor Na Dong-yeon, is facing scrutiny due to past real estate issues.

Democratic Party Nomination Process

The Democratic Party of Korea’s Gyeongnam Provincial Party Nomination Management Committee will interview eight preliminary candidates on March 13, 2026. Approximately half of the candidates will be excluded based on the interview results. Final candidates will be selected through a poll in early to mid-April, weighted 50% by party members and 50% by the general public.

Real Estate Allegations Against Kim Il-kwon

A series of posts on the Gyeongnam Provincial Party website are raising concerns about former Mayor Kim Il-kwon’s past real estate dealings. These concerns center around potential impacts on his competitiveness in the final nomination stages.

In November 2022, Kim Il-kwon received a summary order to pay a fine of 20 million won for violating the Real Estate Act. The charges stemmed from accusations of purchasing farmland in Yangsan in the name of an acquaintance in 2015 and subsequently selling it within a few months for a profit of tens of millions of won.

During his tenure as mayor, Kim Il-kwon faced criticism for allegedly using administrative power for personal gain, including designating roads and granting building permits on land he owned, in violation of the Farmland Act. While the prosecution decided not to indict the case in January of this year due to insufficient evidence, moral criticism persists.

Additional controversies include an incident involving an executor who experienced a personal crisis and allegations that a member of his 2018 election campaign team established a company that subsequently received a significant number of government-funded projects.

Kim Il-kwon’s Response

In February, when questioned about these allegations, Kim Il-kwon stated, “There is no problem (at all). The truth always returns to its original place,” expressing confidence in his prospects for the election.

Other Candidates in the Race

Other candidates vying for the Democratic Party’s nomination for Yangsan mayor include:

  • Park Dae-jo (former city council member)
  • Park Jae-woo (former city council member)
  • Park Jong-seo (former Woongsang branch head)
  • Seo Sang-tae (former National Assembly member)
  • Kim Doo-kwan (former secretary-general of the National Assembly)
  • Lim Jae-chun (chairman of the Korea Youth Culture Center)
  • Cho Moon-gwan (vice-president of the Democracy Research Institute)
  • Choi Seon-ho (city council member)

The election is scheduled for June 3rd.

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