A civic group has claimed that only ten percent of profits from the controversial land development project in Seongnam, Gyeonggi Province, went to the public sector while the rest lined the pockets of private investors.

At a press conference on Tuesday, the Citizens’ Coalition for Economic Justice said private entities, including Hwacheon Daeyu, an asset management firm at the center of corruption allegations, made around one-point-six trillion won in profits related to the project.

Based on the Land Ministry's data, the group calculated total profits reached one-point-82 trillion won, the biggest portion of which came from land sales totaling 724-point-three billion won.

About one-point-one trillion won in profits were generated from the sale of four-thousand-340 apartment units.

Hwacheon Daeyu and its affiliates are believed to have pocketed 850 billion won, while Kim Man-bae, the firm's biggest shareholder, and his family members likely took 650 billion won of the share.

Estimating that the profit acquired by the Kims is believed to be three-thousand-800 times their investment, and that for the other affiliate owners was eleven-hundred times their investment, the group called for a special counsel probe into the allegations.