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Seoul Finance Minister Resigns in Real-Estate Scandal


South Korea's president has accepted the resignation of his finance and economy minister, caught up in a scandal involving controversial real-estate deals.

Minister Lee Hun-Jai and his wife have been accused of flouting regulations in the course of a series of speculative land sales - deals that earned them $6.6 million.

Mr. Lee, who took office a year ago, denies any wrongdoing and says there was nothing speculative about the real-estate transactions. He says he is stepping down so the scandal will not affect the nation's economy.

President Roh Moo-Hyun accepted the resignation Monday.

Some information for this report provided by AP and Reuters.