Suspicion of Delivery Corruption Following Land Speculation... Police Raid LH Headquarters and Suspects' Residences (Update)

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[Asia Economy Reporter Jeong Dong-hoon] The police have launched a forced investigation not only into the real estate speculation allegations involving employees of Korea Land and Housing Corporation (LH) but also into procurement corruption.

The Anti-Corruption and Public Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that from around 10 a.m. on the 8th, they have been conducting searches and seizures at six locations, including the LH headquarters, the residences of three suspects, and procurement companies.

The police reportedly initiated the investigation after discovering new suspicious points while collecting intelligence related to real estate speculation allegations. The searches and seizures are taking place not only in Jinju, where the LH headquarters is located, but also in areas around Hwaseong, Yongin, and Namyangju in Gyeonggi Province.