[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] On the 23rd, the Jeonnam Police conducted a search and seizure of the Sinan County Office and County Council in Jeonnam in connection with allegations of real estate speculation.
The Anti-Corruption Investigation Team 4 of the Jeonnam Provincial Police Agency reportedly carried out a search and seizure from 9 a.m. at the Sinan County Office Urban Development Project Office, the County Council, and the residence of Councilor A, securing related materials.
Earlier, the police received a tip-off that some county council members and employees had prior knowledge of the urban development plan for the Apheodo area in Sinan County and purchased the land accordingly, and have been investigating.
Councilor A of the Sinan County Council is suspected of purchasing surrounding land in advance, knowing the development plan in 2019.
Councilor A is known to deny the speculation allegations, stating, “There was a plan to purchase the land even before the development plan was established.”
A police official said, “We are conducting a comprehensive investigation into real estate speculation,” adding, “We are analyzing the materials seized during the search to secure evidence on whether development plan information was leaked in advance, and we will investigate strictly and thoroughly.”
Meanwhile, Sinan County decided in 2019 to reorganize Apheoeup into an urban form and started an urban planning change project targeting four zones: Sinjang-ri, School, Songgong, and Bokryong-ri.
Sinan County expects that once the Apheoeup county management plan change is finalized by the Jeonnam Province in June, the land use zone will be changed to a commercial area, leading to a significant price increase, raising speculation concerns.
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