Police Conduct Search and Seizure on Six Sites Including Gwangju City Hall Over Real Estate Speculation Allegations

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] The police are conducting a search and seizure at Gwangju City Hall and other locations in connection with allegations of real estate speculation by a retired senior official from a district office in Gwangju.

The Anti-Corruption Economic Crime Investigation Unit of the Gwangju Police Agency announced that from around 1:30 PM on the 8th, they have been conducting search and seizure operations at six locations, including Gwangju City Hall and the Gwangsan and Seo District Offices.

The police confirmed circumstances indicating that a retired senior official from a district office in Gwangju engaged in real estate speculation, and thus proceeded with search and seizure at real estate-related departments such as the Comprehensive Construction Headquarters, Investment Attraction Division, and Land Information Division of Gwangju City. Additionally, Seo District, Gwangsan District, and the suspect’s residence were also reportedly included in the search and seizure targets.

Based on the materials secured through the search and seizure, the police are expected to verify whether the retired official used internal information from the local government to carry out speculation.