Kang Ho Dong finalized the process of donating his real estate property near the upcoming Pyeongchang Winter Olympics site to the Seoul Asan Medical Center. A source stated, “Kang Ho Dong has been volunteering to help child patients at the Seoul Asan Medical Center since three years ago. He started discussing the details of his donation since his retirement last year. As a father himself, he wanted to do something special for children at the medical center. Kang Ho Dong and the Seoul Asan Medical Center’s Social Welfare branch recently finalized the donation process.”
Kang Ho Dong has been suspected of real estate speculation. On February 28, KBS “Current Affairs Project Window” explored allegations of real estate speculation made against Kang Ho Dong. According to the show, Kang Ho Dong owns 700 million won (about $62,000) worth of farmland, woods and field near Pyeongchang Winter Olympics site. A local real estate agent claimed this land to be “of A grade value as one can easily view the ski slopes.”
However, as a large portion of this property of Kang Ho Dong’s is farmlands, Kang Ho Dong is now under investigation for violating the Agricultural Land Act. Kang Ho Dong commented, “I only found out recently that I have to farm there myself. This is my fault as I was completely unaware of such facts.” He recently submitted a detailed proposal to start farming potatoes in his property.
Kang Ho Dong also purchased a large portion of land near Pyeongchang Winter Olympics site back in July 2010, right after Pyeongchang was voted as the next city to host the Winter Olympics. Many criticized his purchase as real estate speculation. Because the property’s value soon increased exponentially. Kang Ho Dong claimed, “I didn’t have any special reasons for buying the property. My friends recommended it as a long-term investment. However, I am very sorry as this could be seen as an inconsiderate, exploitative purchase.”
Due to such criticisms and allegations, Kang Ho Dong promised to donate his properties for a “good cause” in this episode of “Current Affairs Project Window.” That is exactly what he did by donating all of his Pyeongchang properties, which is worth about 2 billion won (about $1.8m) in total.