Korea Commission on Human Rights: "Urgent Need to Enact and Implement Conflict of Interest Prevention Act"
[Sejong=Asia Economy Reporter Moon Chaeseok] After the Korean Land and Housing Corporation (LH) land speculation scandal, the government declared it will completely crack down on speculative activities such as real estate and stock trading by public officials.
According to the Anti-Corruption and Civil Rights Commission (ACRC) on the 6th, from the 4th until the end of June, they will accept concentrated reports on speculation related to public officials' duties. The status of the number of reports received and other details will be announced collectively at the end of June.
Specifically, reports can be made on real estate speculation using insider information by public officials, providing or leaking insider information to others, and any other acts of seeking profit using duty-related information.
In other words, the scope of reports is not limited to real estate but includes all speculative acts unfairly conducted using one's position, such as stocks.
This decision to accept reports comes amid suspicions that LH executives and employees speculated on land worth over 10 billion KRW in the Gwangmyeong and Siheung new towns using information obtained during work.
It is interpreted that this measure was taken to implement President Moon Jae-in's order to conduct a full investigation of illegal land transactions involving LH, the Ministry of Land, Infrastructure and Transport, related agencies' employees, and their families.
The ACRC's position is that situations where public officials face conflicts of interest between public and private interests while performing their duties should not be allowed.
The ACRC argues that the "Public Officials Conflict of Interest Prevention Act," currently pending in the National Assembly, must be promptly enacted and implemented to prevent a "second LH scandal."
Reports can be submitted by visiting the ACRC Comprehensive Civil Complaint Counseling Center in the Government Complex Sejong or the Government Joint Civil Service Center in Jongno, Seoul, or by mail. Reports can also be made through the Integrity Portal, and consultation related to reporting is available by calling 1398 or 110 without an area code.
If the ACRC recognizes that the reported content involves corruption or public interest infringement requiring investigation or audit, they plan to file charges or transfer the case to investigative or audit agencies.
Anyone can report, and the confidentiality of the reporter is strictly guaranteed. If the reporter does not consent to disclose their identity, their personal information will not be shared even when the case is transferred to investigative agencies.
The ACRC will restore the status quo if any disadvantageous measures occur due to reporting, and will provide personal protection measures if threats to life or body arise. If illegal acts by the reporter are discovered, reductions or exemptions in criminal or disciplinary penalties are possible, and if a request for mitigation of responsibility is made, the disciplinary authority will be asked to reduce or exempt penalties.
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