Menu Content
Go Top

Domestic

Police Raid Homes, Offices in Property Speculation Probe

Written: 2021-03-15 14:35:49Updated: 2021-03-15 14:55:46

Police Raid Homes, Offices in Property Speculation Probe

Photo : YONHAP News

Anchor: In the latest developments in the LH scandal, police have raided the homes and offices of public officials accused of land speculation in two cities in the Gyeonggi area. Also, Prime Minister Chung Sye-kun has vowed to prohibit officials from acquiring property unless they intend to live in it.
Choi You Sun reports.

Report: At a ministerial meeting on Sunday, Prime Minister Chung Sye-kyun said the government will prohibit employees of the state-run Korea Land and Housing Corporation(LH) from acquiring land for reasons other than living there.

Chung said internal reforms will also be enacted to prevent employees from sharing confidential information and speculative methods, and a new system will be established to monitor employees' property ownership.

Inspections of land possession will be conducted before an area is designated for development, and those found to be involved in speculative activities will face both personnel and criminal consequences.

As for 20 LH employees suspected of speculation from the government's preliminary investigation, the prime minister vowed to seek legal ways to dispose of their land ownership.

Amid the ongoing investigation, the Gyeonggi Nambu Provincial Police Agency on Monday raided the offices and residences of a Siheung city councilor affiliated with the ruling Democratic Party(DP) and a Gwangmyeong city government employee.

Earlier this month, a civic group had filed a complaint, accusing the councilor of seeking profits through purchasing land and constructing a commercial building in an area in Siheung, which is included in the government's housing development project.

The Gwangmyeong employee was found to have bought into forest land with his family in a development area in the city in July last year, ahead of the project announcement.

The interagency team investigating the alleged speculation in the public sector, meanwhile, has opened a center to receive relevant tips from the public, such as suspected misappropriated confidential information or speculative activities.

Meanwhile, in light of the scandal, a Realmeter poll has found that nearly 58 percent of respondents believe it would be appropriate to cancel the housing development project in Gwangmyeong and Siheung altogether. Thirty-four percent opposed.

The survey, commissioned by YTN, had a confidence level of 95 percent with a margin of error of plus or minus four-point-four percentage points.
Choi You Sun, KBS World Radio News.

Related News

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >