Overview

• President Lee Jae-myung accepted Oh Kwang-soo’s resignation on June 13 amid revelations of his wife’s undisclosed property and a proxy loan
• Oh stepped down just five days after his June 8 appointment following mounting scrutiny of his asset management
• He is accused of managing real estate owned by his wife under a borrowed name and failing to declare the holdings as required
• Allegations also state he took a 1.5 billion-won loan from a savings bank in 2007 using a friend’s name
• The senior civil affairs secretary vets top officials and oversees law enforcement and this marks the first high-level resignation of Lee’s administration