South Korean president's only home set to be sold after five months on market

South Korean President Lee Jae Myung's apartment in Seongnam, just south of Seoul, is set to be sold around five months after it was put on the market, according to sources.

Lee listed the apartment in Seongnam's affluent Bundang district in February as part of an effort to curb runaway home prices, Caliber.Az reports via South Korean media.

The property, which he jointly owns with his wife, is his only home.

Sources at the presidential office said a final sales contract is expected to be signed soon after a preliminary agreement was reached shortly after the apartment was listed.

Speaking during a Cabinet meeting on Tuesday (July 14), Lee said, "I no longer have a home."

By Aghakazim Guliyev