Police Conduct Search and Seizure at Asan City Council Office Over 'Real Estate Speculation Allegations' (Update)

[Asia Economy Reporter Jeong Dong-hoon] The police have launched a forced investigation related to senior officials of the Asan City Council who are suspected of real estate speculation.

On the 31st, according to the police, the Special Investigation Unit for Real Estate Speculation Crimes of the Chungcheongnam-do Provincial Police Agency is conducting a search and seizure at five locations, including the Asan City Council office and residences, starting from 1:30 PM today, regarding allegations of real estate speculation by senior officials of the Asan City Council.

Earlier, a media outlet reported that "an elected official of Asan was suspected of speculation aiming to profit from compensation for business losses caused by development."