Local Governments Also Launch Investigations into Civil Servants' Land Purchase Status and More
[Asia Economy Reporter Han Jinju] As the government joint investigation team intensifies speculation investigations across the 3rd New Towns, local governments in the new town sites have also launched their own speculation probes.
On the 8th, Park Namchun, Mayor of Incheon, ordered the city audit office to investigate speculation allegations related to the 3rd New Town, Gyeyang Technovalley.
The total compensation cost for Gyeyang Technovalley is 1.25 trillion KRW, with Korea Land and Housing Corporation (LH) covering 1 trillion KRW and Incheon Urban Corporation bearing 250 billion KRW. Land compensation began in December last year, and pre-sale is scheduled for July this year.
Bucheon City in Gyeonggi Province also decided to investigate land transaction statuses of its public officials related to the Bucheon Daejang District.
The investigation is reported to compare land transaction details of the 3rd New Town construction areas?Daejang, Wonjong, Ojeong, and Samjeong-dong totaling 3.43 million square meters?with land purchases made by public officials.
Gwangmyeong City in Gyeonggi Province is also significantly expanding the investigation scope of land transactions involving its public officials and 1,100 employees of Gwangmyeong Urban Corporation in connection with the Gwangmyeong-Siheung New Town development project.
In addition to the existing Gwangmyeong-Siheung New Town, Gwangmyeong has added the Gwangmyeong-Siheung Technovalley development project area, Gureumsan urban development project area, Gwangmyeong Haan 2 public housing district, and the Gwangmyeong Cultural Complex urban development project area in front of Gwangmyeong Cave to the investigation targets.
The city plans to investigate land transaction histories and ownership changes from five years prior to the public viewing period for each development project district.
The government joint investigation team is investigating speculation allegations in six 3rd New Towns?Gwangmyeong-Siheung, Namyangju Wangsuk, Hanam Gyosan, Incheon Gyeyang, Goyang Changneung, and Bucheon Daejang?as well as large-scale development districts with land areas over 1 million square meters such as Gwacheon District and Ansan Jangsang District, and plans to announce the first investigation results later this week.
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