[Asia Economy Reporter Jeong Dong-hoon] The government joint special investigation headquarters (Special Investigation Headquarters), which is investigating real estate speculation allegations stemming from the Korea Land and Housing Corporation (LH), announced that three individuals?a former Gyeonggi Provincial Government official, an LH Jeonbuk Headquarters employee, and a Korea Rural Community Corporation employee?who had arrest warrants requested against them will undergo a warrant hearing (pre-arrest suspect interrogation) on the 8th.
According to the government joint special investigation headquarters on the 7th, the warrant hearing for the former Gyeonggi Provincial Government official and the LH Jeonbuk Headquarters employee, who are suspected of speculation related to the development site of the semiconductor cluster in Yongin, Gyeonggi Province, will be held on the morning of the 8th. The warrant hearing for Mr. A, an employee of the Korea Rural Community Corporation suspected of speculation on the site of the comprehensive river maintenance project in Yeongcheon, Gyeongbuk Province, will also be held on the afternoon of the 8th at the Daegu District Court.
The Special Investigation Headquarters is also focusing on analyzing seized materials related to a manager at the Presidential Security Service. A Special Investigation Headquarters official told reporters on the day, "We are analyzing the materials secured through the search and seizure," and added, "Once the analysis is complete, we will summon and investigate the necessary individuals at the appropriate time." The Gyeonggi Southern Provincial Police Agency executed search warrants for about three hours at four locations the previous day, including the Blue House Security Service, LH Jinju headquarters, the residence of Manager A of the Security Service, and the home of A’s older brother, who is an LH current employee.
It was confirmed that Mr. A purchased 1,888㎡ of land in Noonsadong, Gwangmyeong City, a 3rd phase new town area, jointly with his older brother’s spouse and family around September 2017. This has raised suspicions that he may have speculated using insider information together with his older brother, who is a current LH employee. Mr. A has been placed on standby.
The police reportedly secured computer storage devices and electronic documents related to the land purchased by Mr. A and others through the search and seizure. A Special Investigation Headquarters official stated, "The Gyeonggi Southern Provincial Police Agency is currently conducting forensic analysis."
Meanwhile, the Special Investigation Headquarters’ reporting center has received 744 reports related to real estate suspicions as of the previous day, some of which have been assigned to provincial police agencies.
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