Minjoo Party's new building

When the government toppled by a military coup in 1981 founded the Democratic Justice Party, it purchased land where Jeongil Academic Institute in Gwanhun-dong, Jongno District was located to build its central office building. The place was touted as an ideal spot by topography experts. Former Presidents Chun Doo-hwan and Roh Tae-woo came from the place, but former President Kim Young-sam moved to the Geukdong VIP building when the three parties merged in 1990. The place where Minjeong Party office building, owned by Insurance Association, was contracted to be sold to a real estate titan but Lee Jong-chan, then planning and coordination director of the Central Intelligence Agency, took over the contract right.

During the pro-democracy movement era, opposition parties had to stamp their feet as they were unable to purchase their office buildings. The Unification Democratic Party, led by Kim Young-sam, narrowly secured a place at Jungrim-dong near West Station in Seoul in 1985 when then the party's general affairs manager Kim Moo-sung signed contract using another person's name. The Peace Democratic Party founded by Kim Dae-jung in 1987 rented a place in Daeha building in Yeouido, but as the National Safety Planning Department interfered to disable the elevator function, employees had to bring up loads by stairs. The next year, the Pyeongmin Party's Mapo office building was available only when Kim Dae-jung took 1.2 billion won (1.05 million dollars) in loans while representatives of the national constituency paid the rest.

The office building for the New Korea Party under the Kim Young-sam administration was newly built in Yeouido in October 1997 at 30 billion won (26.36 million dollars), and was 10 stories high and six stories down. However, Lee Hoi-chang, who had been touted as the leading presidential candidate, lost presidential election both in 1997 and 2002. In 2002, the New Korea Party was branded a party that received political bribery from chaebol, and its Yeouido building had to be sold and its training institute located in Cheonan City had to be donated to the nation.

The Minjoo Party of Korea that has the top presidential contender purchased and moved into its new 10-story high and four-story down Jangdeok building in Yeouido on Monday. The price was 20 billion won (17.59 million dollars). The party borrowed money from the bank under condition that it pays 80 percent of the building purchase costs in 10-year installments. It has to pay 50 million won (44,000 dollars) as interests every month. In 2015, the party received 17.75 billion won (15.6 million dollars) in state subsidy and used most of them in personnel costs and office maintenance. The money spent to purchase party office buildings are supported by taxpayers' money. It is really surprising to see that the main opposition party purchased a huge building depending on the tax money.