"Citizens Want Swift Investigation Progress... Request Frequent Updates" Appeal to Police and Prosecutors
[Sejong=Asia Economy Reporter Kim Hyunjung] Hong Nam-ki, Acting Prime Minister, Deputy Prime Minister for Economy, and Minister of Strategy and Finance, announced on the 19th that through investigations related to speculation allegations involving Korea Land and Housing Corporation (LH), real estate worth approximately 24.4 billion KRW has been confiscated and seized to preserve assets. In particular, reflecting the demands of the public, he urged the prosecution and police to accelerate the investigation speed, impose stronger punishments, and provide frequent reports.
Acting Prime Minister Hong chaired a cooperation meeting on the investigation of real estate speculation at the Government Complex Seoul on the morning of the same day, stating, "It has been about a month and a half since the investigation began, and now substantial results are emerging." He added, "The Special Investigation Headquarters has conducted preliminary investigations or investigations on 198 cases involving 868 individuals, referred 52 suspects whose charges were confirmed, and detained 6. Additionally, approximately 24.4 billion KRW worth of real estate has been swiftly identified as speculative profits and confiscated or seized to preserve assets." Acting Prime Minister Hong is filling the vacant Prime Minister position following the resignation of former Prime Minister Chung Sye-kyun on the 16th, and this meeting was convened to receive a report on the achievements since the establishment of the Joint Special Investigation Headquarters at the National Police Agency in early March.
He emphasized, "The government established the Joint Special Investigation Headquarters at the National Police Agency in early March to investigate real estate speculation crimes, and by the end of March, expanded it twofold to a scale of 1,560 personnel. We have built an organic cooperation system between the prosecution and police and formed a dedicated investigation team of 641 members at the prosecution, deploying all available resources to the investigation." He further explained, "We are identifying real estate speculation offenders nationwide without limiting the scope to the initially raised allegations of public officials' speculation related to new towns."
He also called for swift investigations and strong punishments. He said, "Since the public desires faster progress in investigations and stronger punishments for real estate speculators, it is necessary to accelerate efforts further." He stressed, "We must eradicate all real estate speculation crimes during this opportunity and thoroughly recover profits gained from such crimes." He added, "We must prevent public officials from even attempting real estate speculation. Also, special investigative attention should be heightened regarding speculative crimes by nationwide planned real estate companies."
He urged active communication with the public. Acting Prime Minister Hong said, "The police and prosecution should frequently and thoroughly explain the investigation status to the public within the limits permitted by law." He continued, "To achieve proper results promptly, inter-ministerial cooperation and, in this case, cooperation between the prosecution and police are essential. Based on the mission to eradicate real estate corruption, everyone should do their best as one team." He added, "If there are difficulties during the investigation process, please report immediately." He concluded, "As Acting Prime Minister and Deputy Prime Minister for Economy, I will provide the utmost support possible."
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