The prosecution and police have agreed to form a consultative body to work closely on investigating allegations that employees at the state-run Korea Land and Housing Corporation(LH) engaged in land speculation.

Officials said the agreement was reached during a meeting about the investigation on Wednesday chaired by Prime Minister Chung Sye-kyun.

In attendance were Justice Minister Park Beom-kye, Interior Minister Jeon Hae-cheol, Korean National Police Agency(KNPA) Commissioner General Kim Chang-yong and acting Prosecutor General Cho Nam-kwan.

The participants reached the agreement as they reaffirmed that the special team led by the KNPA’s National Investigation Headquarters will be charged with handling the LH case.

Given that the investigation is being led by the police and not the prosecution, a prosecutor with expertise in real estate will be dispatched to an interagency government probe team in accordance with the two agencies' adjustment of investigative authority.