As Koreans in New York and New Jersey marked the recent ferry
As Koreans in New York and New Jersey marked the recent ferry disaster with memorial events, it was revealed that family members of the ferry company’s owners have for many years been purchasing real estate assets in the U.S.
The Korean American Association of Greater New York set up a memorial altar for all the victims of the Sewol ferry accident at its office in Manhattan to accept condolences. Thirty heads of local Korean organizations visited the altar on April 22, the seventh day after the accident. They laid white chrysanthemums, paying their respects to the souls of deceased students, adult passengers and crew, and praying for the missing people.
“We wish the safe return of the missing people and pray that the deceased victims will rest in peace. I hope this earnest wish from Koreans in the U.S. will comfort the victims and their families,” Sung K. Min, president of the association, said.
The Korean-American Association of New Jersey issued a statement of condolence at its memorial altar with other local Korean organizations, including Korean American Association of Palisades Park, New Jersey Korean American Chamber of Commerce, and Korean-American Vietnam War Veteran.
Kanghoon Yu, president of the Korean-American Association of New Jersey, stressed that this must never happen again. “I cannot help crying, because I could do nothing but say sorry for the kids,” said Yoo.
A campaign to send messages to the victims was held in Times Square from 11 a.m. to 1 p.m. by New York Queens Hope Share Foundation. Tourists from all around the world and New Yorkers wrote comforting messages to the passengers of Sewol ferry and their families.
Tourists who were told the purpose of the campaign from volunteers of the foundation readily participated and wrote messages to share the pain and console the families. The messages written in German, Chinese, English, Spanish, and other languages will be delivered to Danwon High School in Ansan, Korea with comforting letters from Koreans in New York.
A German tourist couple said that they felt sad to hear that the captain of the ferry escaped first from the scene, making the accident worse. “When we heard the news on TV, it was heartbreaking to see the parents of the students waiting for their children in the cold water. We understand their hearts as we are parents of four children,” they said.
An overseas branch of Korea Christ Day Movement hosted a prayer service at Grace Evangelical Lutheran Church in Palisades Park, N.J., for Sewol ferry victims and the future of Korea. Rev. Youngho Jung, Changsung Lee, Jongmyung Lee and other members of the branch led the special prayers during the service.
Cheonghaejin Marine Company, the operator of the ferry, is now under investigation on suspicion of capital flight overseas. It has been revealed that the family of Byungun Yoo, the actual owner of the marine company, posseses real estate worth $130 million in the U.S., much of it in New York.
All of the properties are held in the names of his children and the company.
According to Secret of Korea, a news blog run by Korean-American journalist, Chiyong Ahn, the owner’s second son, Hyukki, purchased a luxurious residence for $3.45 million dollars in Westchester County in August 2007. He already owned an apartment in Manhattan, which he bought for $1.725 million in October 2003. The apartment is under his name and his wife’s name.
Another Yoo family member purchased a million-dollar apartment on the Upper East Side Manhattan in October 2006, which seems to be listed under Yoo’s daughter and her husband.
Hyukki bought real estate worth $925,000 in Riverside County, Calif., in December 2005 with his wife. Earlier, in 1990, Yoo had purchased land for more than $6 million in Riverside County under the name of his corporation, Semo.
The land was bought by a U.S. hotel company in September 2000 after Semo went into receivership, but that hotel company is known as Yoo’s borrowed-name company.
Since these various real estate purchases were made at a time when the Korean government restricted such transactions, the family’s real estate investments in the U.S. are questionable.
By Jinsoo Lee and Jinwoo Cho Via The Korea Times
Translated by Jiwon Choi from Korean