[Comprehensive] "In the past, such suspicions were immediately investigated"... Yoon Seok-yeol targets 'LH suspicion' investigation team

"Corruption Spreads Quickly If Not Prevented"
"It's Not About a Full Investigation... What Can Words Reveal?"
Joint Government Investigation Team Formed on the 4th
Some in Politics Criticize as a 'Self-Exoneration'
"Prosecutors and Board of Audit Excluded, Byeon Chang-heum Takes the Lead"

Former Prosecutor General Yoon Seok-yeol is giving a farewell speech as he leaves the Supreme Prosecutors' Office building in Seocho-gu, Seoul, after resigning on the afternoon of the 4th. / Photo by Yonhap News

[Asia Economy Reporter Lim Juhyung] Former Prosecutor General Yoon Seok-yeol urged the prosecution to investigate the land speculation allegations involving employees of the Korea Land and Housing Corporation (LH) in the Gwangmyeong and Siheung new towns, stating, "Instead of dragging out time with the Ministry of Land, Infrastructure and Transport's (MOLIT) own investigation and allowing evidence to be destroyed, an immediate and thorough investigation must be conducted."

On the 6th, Yoon told the 'Chosun Ilbo', "Stealing public information to engage in real estate speculation is a crime that ruins the nation," asserting this position.

He continued, "Whether due to government intent or incompetence, corruption quickly spreads if it is not stopped within one or two instances," and pointed out, "In the past, wasn't the prosecution immediately launched in such cases?"

He also criticized, "This is not a full-scale investigation where the Prime Minister's Office or MOLIT only look at registries and verbally ask LH or Blue House employees whether they bought land or not," adding, "What can be revealed by just asking verbally?"

On the 4th, saplings were planted on land near the recycling facility in Gwarim-dong, Siheung-si, Gyeonggi-do, where allegations of speculation by LH employees were raised. / Photo by Yonhap News

Earlier, on the 2nd, the allegations surfaced following revelations by the People's Solidarity for Participatory Democracy and the Lawyers for a Democratic Society (Minbyun). It was claimed that about ten current and former LH employees and their families took out loans totaling approximately 5.8 billion KRW to pre-purchase land worth 10 billion KRW in the new town areas before the official announcement.

The next day (3rd), President Moon Jae-in ordered a thorough land transaction investigation targeting not only Gwangmyeong and Siheung but the entire 3rd new town, covering employees and families of MOLIT, LH, and related public institutions involved in new land development.

Subsequently, on the 4th, a government joint investigation team centered around the Prime Minister's Office was formed and began the investigation.

However, some in the political sphere criticized the investigation team as an attempt at a so-called 'self-exoneration.' The criticism arose because the prosecution and Board of Audit and Inspection were excluded from the team, while MOLIT Minister Byun Chang-heum, who previously served as LH president, participated, leading to concerns about the investigation's credibility.

Members of the National Assembly Land, Infrastructure and Transport Committee from the People Power Party demanded the attendance of Minister of Land, Infrastructure and Transport Byeon Chang-heum and Acting President of Korea Land and Housing Corporation (LH) Jang Chung-mo at the Land, Infrastructure and Transport Committee meeting room on the 5th. / Photo by Yonhap News

On the 7th, Bae Jun-young, spokesperson for the People Power Party, issued a statement saying, "Are the economic ministries just going to put out these obvious half-measures and expect to receive a 'self-exoneration'?" He criticized, "Do they really think the public will trust an investigation led by Minister Byun with the prosecution and Board of Audit and Inspection excluded?"

He emphasized, "The first step to regaining trust is for the President to offer a sincere apology to resolve the situation and to dismiss Minister Byun."

Within the ruling party, there were also calls for "MOLIT to be excluded from the investigation team."

On the 6th, Park Yong-jin, a member of the Democratic Party of Korea, wrote on his Facebook, "This happened during the time when Minister Byun Chang-heum was president of LH," explaining, "MOLIT and LH are currently facing public distrust."

He added, "No matter how hard the joint investigation team works, it is obvious that there will be controversies over protecting insiders and lenient punishments," urging, "MOLIT, which inevitably causes controversy over self-investigation, must be excluded."