Accessibility links

Breaking News

S. Korean President Calls for Probe of Real Estate Scandal


South Korean President Roh Moo-hyun says he will order an investigation into allegations that his former finance minister was involved in a series of speculative real estate deals.

In a statement issued by his office Tuesday, Mr. Roh apologized for reports that Lee Hun-jai and his wife breached regulations that earned them millions of dollars in the deals.

Mr. Roh said he feels "distressed and ashamed" by the allegations.

Mr. Lee submitted his resignation to the president on Monday after only a year in office, saying he did not want the scandal to affect the nation's economy. But he denies any wrongdoing.

Some information for this report provided by AP and Reuters.