A senior public official with the Pocheon City government in Gyeonggi Province has been indicted for alleged real estate speculation. 

The Uijeongbu District Public Prosecutors' Office said Monday that it indicted the employee, surnamed Park, last Friday on charges of violating the law on preventing corruption. 

It marks the first indictment since a special interagency investigation team was launched to look into alleged speculative land purchases by employees of the state-run Korea Land and Housing Corporation and other public officials. 

Park is suspected of using insider information to buy with his wife a plot of land measuring 26-hundred square meters near a site set to house a train station last September. He purchased the land for four billion won and it is now reportedly worth some ten billion won. 

Park, who was in charge of handling plans related to Pocheon’s railway lines between 2018 and 2019, has denied the speculation charges.