Ministry of Land, LH, Local Governments Expand Investigation to Employees and Families
Complete Ban on Land Transactions by Employees Related to New Housing Site Development
Joint Investigation Team Led by Prime Minister's Office Launches on 4th
Full Survey to Confirm Land Speculation by Public Officials in 3rd New Towns
[Asia Economy Reporter Jo Gang-wook] The controversy over land speculation allegations involving some employees of the Korea Land and Housing Corporation (LH) is rapidly escalating.
The government has launched a full-scale investigation into whether public officials engaged in land speculation in other 3rd phase new towns, expanding the scope to include their families.
Additionally, it plans to implement measures to completely prohibit land transactions for purposes other than residence by employees of ministries and corporations involved in new land development.
On the 3rd, the government announced that on the 4th, a joint investigation team led by the Prime Minister's Office will be launched to conduct a full investigation to verify whether public officials engaged in land speculation in other 3rd phase new towns besides Gwangmyeong and Siheung.
The investigation targets employees and their families in relevant departments of public institutions such as the Ministry of Land, Infrastructure and Transport, LH, and local governments. A preliminary investigation related to this is expected to be completed by next week.
On the same day, the Ministry of Land, Infrastructure and Transport and LH confirmed through their own investigation that 13 LH employees acquired 12 land parcels in the relevant areas and have completed suspension of these employees from their positions.
Among the 10 parcels presented by the Lawyers for a Democratic Society (Minbyun) and the People's Solidarity for Participatory Democracy, 2 parcels were confirmed not to be owned by LH employees. However, ownership of 4 additional parcels was revealed, bringing the total to 12 parcels owned by LH employees.
It was confirmed that these employees have not worked in departments related to new candidate sites or the Gwangmyeong-Siheung project headquarters since 2015.
The Ministry of Land, Infrastructure and Transport and LH plan to verify any illegalities through internal audits and will take strict actions such as requesting investigations or filing complaints if any violations are found.
In particular, the government is pushing for measures to completely ban land transactions for purposes other than residence by employees of ministries and corporations involved in new land development. Specific details such as the scope of target corporations, local public enterprises, and the extent of land transaction restrictions will be announced after detailed review.
Furthermore, a system for continuous investigation and response to suspicious cases will be established, and personnel disadvantages will be imposed for illegal or improper matters. The government also plans to prepare recurrence prevention measures that can enhance effectiveness, such as expanding the scope of punishable offenses under relevant laws. Currently, the "Special Act on Public Housing" stipulates that those who use information obtained during work for purposes other than intended or provide or leak it to others shall be punished by imprisonment of up to 5 years or a fine of up to 50 million won.
Before amending related laws, the Ministry of Land, Infrastructure and Transport plans to prioritize immediate implementation through internal regulations such as personnel rules for each public institution.
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