Joo Ho-young: "Leaving LH Investigation to Byeon Chang-heum Is Like Entrusting a Fish Store to a Cat"

Former LH President Byun Should Not Be Investigated as Minister of Land, Infrastructure and Transport
Request Audit by Board of Audit and Inspection or Demand National Assembly Investigation if Inadequate

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] Joo Ho-young, floor leader of the People Power Party, criticized the Ministry of Land, Infrastructure and Transport (MOLIT) for being in charge of the investigation into the 10 billion won-scale pre-speculation allegations by employees of Korea Land and Housing Corporation (LH) in the Gwangmyeong-Siheung district, calling it "like entrusting a fish shop to a cat."

After holding a video meeting of the People Power Party on the same day, Floor Leader Joo told reporters, "The government's way of handling this issue is very wrong."

Prime Minister Chung Sye-kyun is scheduled to announce the launch of a government joint investigation team and investigation plans related to speculation in the 3rd New Towns during a regular briefing on the day. The investigation team will be composed mainly of the Prime Minister's Office and employees from related ministries including MOLIT.

Floor Leader Joo said, "There is a need for a nationwide simultaneous audit of such sites centered on the Board of Audit and Inspection," adding, "It is extremely wrong for MOLIT, which oversees LH, and especially Minister Byeon Chang-heum, who was formerly the president of LH, to investigate this issue, just like entrusting a fish shop to a cat." He also said, "Not only in Gwangmyeong of the 3rd New Town but also in so-called public-type developments nationwide, there are stages of planning and contracting, and there is a high possibility that people with information engaged in speculation."

He also expressed his intention to first observe the government's investigation situation mainly through the National Assembly Land, Infrastructure and Transport Committee. Floor Leader Joo said, "If it is insufficient, we plan to demand a state audit," and added, "Regarding the alliance with the People's Party, we will decide after seeing whether a proper audit can be conducted."

When asked if there are plans to propose a bill to confiscate speculative profits, he replied, "The current law itself has provisions for strong punishment and nullification of contracts," adding, "If there are insufficient regulations, we will supplement them."