An inter-agency team investigating real estate speculation allegations involving public officials on Friday conducted a search of the National Agency for Administrative City Construction located in Sejong City.

The raids that began from 10 a.m. and included three other locations are related to a former head of the agency who is suspected of buying land in Sejong while in office under his wife's name.

The chair position of this agency, charged with new town construction in Sejong, is a senior-ranking position tantamount to a Cabinet vice minister.

Speculations arose as the official in question made a land purchase in November 2017, nine months before the nearby area was designated a candidate site for a state industrial complex.