S. Korea seeks to buy back Joseon era embassy in U.S.: sources

SEOUL, Oct. 9 (Yonhap) -- South Korea has set aside the budget needed to buy back a historically-meaningful building that its ancestors had to give up about a century ago amid Japanese colonial rule, sources said Thursday.

Located in Washington D.C., the building had served as the one and only overseas
envoy residential building for the Joseon Dynasty (1392-1910) since it signed a
bilateral diplomatic and trade pact with the United States in 1882.
The three-story building was sold to Japan for a mere US$5 in 1910 following
Japan's occupation of Korea and it was later sold to the U.S. A retired local
lawyer currently owns the building.
The Finance Ministry has set aside 3 billion won ($2.2 million) to buy back the
building as part of its 2009 budget plan recently submitted to the National
Assembly for approval, the sources close to the matter told Yonhap News Agency.
The budget assignment came after several private-sector unsuccessful attempts to
buy back the building since the early 1990s, due mainly to a price gap with its
owner.
Demand is growing especially among South Korean compatriots in the U.S. who
engaged in fund raising to put the building in their hands and preserve the
legacy of their ancestors' early step into the diplomatic world.
In October of last year, Lee Tae-sik, South Korea's ambassador to the U.S., told
reporters that the government will push to buy back the building, estimating the
cost at around $2 million to $3 million.
The budget assignment, which was demanded by the country's cultural ministry,
will accelerate the government's efforts to preserve historic legacy. The Seoul
government plans to use the building to promote the country's culture in the
center of the U.S., the sources said.
(END)