Democratic Progressive Party (DPP) presidential candidate Tsai Ing-wen (蔡英文) yesterday rebutted the Chinese Nationalist Party’s (KMT) accusations that she was involved in real-estate speculation, saying that the figures the KMT cited were inaccurate.
“I know that the KMT is attacking me because it is eager to end the controversy over military housing, however, all the numbers they cited today [yesterday] are all wrong,” Tsai said. “Attacking with false figures is no different from smearing. The transaction involved no privilege, no speculation, and no extortionate profit,” she said.
Tsai made the remarks after KMT Legislator Alex Tsai (蔡正元) and former KMT legislator Chiu Yi (邱毅) alleged that Tsai in 1988 purchased 15 plots of land in Neihu District (內湖), Taipei, totaling 895.8m2 and then sold them all in one day in 1997 with what the lawmaker claimed was a net profit of at least NT$180 million (US$5.5 million).
Photo: Chen Hui-ping, Taipei Times
Tsai Ing-wen said that as it has been almost 20 years since she sold the land and she could not remember exactly how much she had made from the transaction.
She said the KMT’s latest accusation was reminiscent of the Yu Chang case during the last presidential campaign, when the KMT alleged that she, during her stint as vice premier, used her influence to benefit Yu Chang Biologics Co (宇昌生技股份有限公司), while also having benefited when she served as chairperson of the company. The allegations were later proved to be false.
“Society is progressing, but the KMT seems to have remained unchanged,” she said.
In a separate press conference at the DPP headquarters, party spokesperson Wang Ming-sheng (王閔生) denied that Tsai Ing-wen was involved in land speculation, because she owned the plots for nine years.
“At the time of purchase, Tsai Ing-wen was an associate professor at National Chengchi University and her parents had made long-term financial plans for her. Tsai Ing-wen has made clear declarations of her properties in past years,” Wang said.
“Alex Tsai made these allegations four years ago and he could not find any problems,” Wang said.
Wang said the KMT caucus had launched a smear attack on Tsai Ing-wen even after its presidential candidate Eric Chu (朱立倫) vowed to employ a positive campaign strategy.
DPP spokesperson Hsu Ming-chun (許銘春) said the KMT estimated Tsai Ing-wen had made a profit of NT$180 million from the transaction, however, according to the party’s research, she would have made NT$41.3 million at the most, since real-estate prices were lower than the KMT claimed and that after an urban renewal project that included Tsai Ing-wen’s land, she could only redistribute land that were 55 percent of the original size.
DPP Legislator Kao Jyh-peng (高志鵬) said that before questioning how Tsai Ing-wen was able to purchase land while employed as an associate professor, the KMT should perhaps explain why Chu’s wife, Kao Wan-chien (高婉倩), was able to purchase 19 plots of land in what is now New Taipei City’s Shimen District (石門) when she just had graduated from university.
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