A special government team that conducted a yearlong investigation into real estate speculation centered around the state-run Korea Land and Housing Corporation(LH) announced the outcome of the probe on Monday.

The team of one-thousand-560 investigators from the police, the financial watchdog and the state tax agency probed over six-thousand people, and referred four-thousand-251 of them to the prosecution.

A total of 64 were formally arrested, including an incumbent lawmaker.

The government seized 150-point-seven billion won in unfair profits from speculation, of which 119-point-three billion won were obtained through insider information.

Over one-thousand-600, or 27-point-eight percent, of the offenders had purchased farmland without any intention to actually farm, while around 800, or 13-point-three percent, were involved in illegal apartment subscription applications.