An inter-agency government team probing real estate speculation has additionally begun looking into fraudulent schemes that lure investors into buying parcels of divided land for a high return. 

The team said Monday that 394 cases involving over 15-hundred individuals are under investigation, with about half related to speculation and the other half to real estate scams or illegal reselling of land.

A senior official at the police agency's National Office of Investigation said in a news conference that the investigation team was sharply expanded from 770 to over 15-hundred members last month. It has also expanded its scope.

The nearly 870 people suspected of land speculation include 45 employees of the Korea Land and Housing Corporation, five lawmakers, eleven local government heads and hundreds of central and provincial public officials. Six arrests have been made so far. 

At the police’s request, a local court issued orders to prevent relevant land from being sold before possible confiscation, which will depend on conviction. The current market value of these properties is 24 billion won, though there could be more depending on court decisions.