A inter-agency investigative team said on Wednesday that hundreds of people, including three incumbent lawmakers, are under investigation in connection with a scandal involving illegal property speculation by public officials. 

Choi Seung-ryul, a senior official at the National Investigation Headquarters under the Korean National Police Agency(KNPA) which is spearheading the probe, said in a briefing that they are looking into a total of 398 people implicated in 89 suspicious deals. 

Among them, 31 are employees of Korea Land and Housing Corporation(LH) and 85 others are public officials, including three lawmakers, 19 city and provincial councilors, and two incumbent and former high-ranking government officials. 

Choi said suspicions were raised against 14 lawmakers in total, including the three under probe, adding more of them could be subject to the probe. Anyone found to have committed speculation using insider information will be prosecuted to the fullest extent of the law, he said.  

Meanwhile, the police carried out additional raids of the headquarters of the Ministry of Land, Infrastructure and Transport and LH on Wednesday afternoon as part of efforts to find out whether other officials committed similar improprieties using the names of their relatives and acquaintances.