Kang Ho Dong’s Investment in the 2018 Winter Olympic Site Stirs Further Controversy

2011-09-21 02:27:39 2011-09-20 19:27:39

Kang Ho Dong’s investment in Pyeongchang has been gathering a lot of interest.

On September 20, local media reported, “Kang Ho Dong, who recently declared his provisional retirement due to many criticisms regarding his tax evasion, bought $2 million USD worth of land in Pyeongchang.”

It was revealed that Kang Ho Dong has spent the last two years purchasing  this land. Another reporter who further investigated this investment stated, “It has been confirmed that Kang Ho Dong bought 20,000 square meters of land over the course of the past two years.”

Additionally, the reporter added, “In November of 2009, he bought 5,279 square meters of land for $718,000 USD (around $448 USD for 3.3 square meters) and, after it was confirmed that Pyeongchang will be the venue for the 2018 Olympics this past July, he bought an additional 14,479 square meters of land for $1.37 million USD.”

After hearing this news, many netizens responded with comments such as, “Are you sure this is an investment?” “I honestly thought that his tax issue was due to some unintentional mistake, but this just makes me feel worse about him,” and “I feel betrayed.”

All in all, the main reason why this news is upsetting netizens is due to speculations that this could’ve been an insider dealing. Since the timing of this investment seems too precise to be considered an ordinary investment, fans are questioning the real story behind it. Also, Kang Ho Dong was fined for tax evasion charges by the National Tax Service in earlier this month, which further disappointed many fans.

Meanwhile, on September 9, Kang Ho Dong proclaimed, “I know how angry and disappointed many people are which is why I’m trying my best to reflect on what I did wrong. I have decided to take this time to declare my
provisional retirement.”