A minor progressive party filed legal changes against President Lee Myung-bak and the first lady on Monday for violating the country’s real estate transaction law.

The Democratic Labor Party claimed that the decision by Lee and his wife to buy land in southern Seoul for their retirement effectively caused monetary losses for the presidential office.

The president bought the plot of land in Naegok-dong for 1.12 billion won ($9.3 million), but the presidential office of Cheong Wa Dae had to buy more land in the area for security personnel at a cost of 4.28 billion won.

It said this constituted a “breach of trust” and translated into misappropriation, which is a crime.

The party also said that Lee’s son claimed to have borrowed 1.2 billion won from a local bank to purchase the land on his parent’s behalf but such a loan could not be taken out in the first place.

“Lee’s son’s annual earnings make it impossible for him to take out such a loan and pay interest,” the party said.

The public prosecutor’s office said it received the lodged complaints and hinted it may allocate the case to investigators already looking into the land purchase deal for wrongdoings.

The president, meanwhile, said that he will not move to Naegok-dong and expressed regret over the incident. 

(Yonhap News)