Gwangju City Launches Investigation into Alleged Speculation in Sanjeong District

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 8th that, separate from the government's joint investigation, it will conduct a full-scale investigation into the Gwangju Sanjeong District, which the government announced as a new public housing district on the 24th of last month, to verify whether any illegal speculative activities have occurred.

Mayor Lee Yong-seop of Gwangju explained on the day, "Although no suspicions of speculation have been found so far, we decided to conduct a full investigation because it is absolutely unacceptable for public officials to use internal information for real estate speculation. Additionally, this is to quickly and thoroughly investigate to dispel citizens' concerns and for future prevention."

Currently, the Sanjeong District is excluded from the central government's joint investigation team’s scope.

The investigation targets public officials of Gwangju City Hall and Gwangsan District Office who have worked within the last five years (including spouses and direct lineal relatives of those directly involved in the work) to determine any prior speculation. If any illegal activities are confirmed as a result of the investigation, strict measures will be taken according to the law.

The specific investigation plan includes obtaining consent for the collection and use of personal information from the targeted public officials and their families to verify land ownership and investigate land transaction records.

The investigation team is composed of the Deputy Mayor as the head, the Audit Committee, the Civil Affairs Judicial Police Division, the Urban Regeneration Bureau, and the Gwangsan District Office.

Mayor Lee said, "Whether to expand the investigation to other development projects will be decided based on the results of the investigation into the Sanjeong District," and added, "We actively welcome reports from citizens."

Meanwhile, the Sanjeong District was selected according to the new public land promotion plan announced on February 24 as a follow-up measure to the government's ‘2·4 Public-led 3080+, Drastic Expansion Plan for Housing Supply in Metropolitan Areas’ aimed at stabilizing housing prices.