Clarification about Koreatown Plaza rent dispute

In response to our previous reports on the Koreatown Plaza rent dispute (“Koreatown Plaza Faces Controversy Over Demand for Previously Waived Rent,” published on February 5), Young Kim, who has been identified as the owner, has informed us through his attorney that he is not the owner.

Mr. Kim has been widely recognized in the Korean community as the “owner of Koreatown Plaza” and personally gave an interview to our newspaper on September 14, 2022, regarding the property’s acquisition.

Upon further investigation, we have confirmed that the legal owner of the property is INI Investment Corp., where Young Kim serves as CEO. The corporation’s directors are listed as Mr. Kim and CFO Jung-Ah Lee.

Additionally, Mr. Kim’s representatives have requested evidence from us regarding the actions of the previous owner, Jung-Nam Yang, during the pandemic, including rent forgiveness and escrow specifications for unpaid rent.

Our articles were based on assertions from Mr. Yang’s associates. Prior to publication, we made multiple attempts to contact Mr. Kim for fact-checking and to provide an opportunity for rebuttal, including phone calls, but received no response. Therefore, we cited Mr. Yang’s interview content as factual claims.