'Arrest Warrant Issued for Senior Official at Yeongcheon City Hall, Gyeongbuk, Over Real Estate Speculation Allegations'

Yeongcheon City Hall, Gyeongbuk.

[Asia Economy Reporter Lee Gwan-joo] A senior public official affiliated with Yeongcheon City Hall in Gyeongbuk, suspected of real estate speculation using insider information, has been arrested.

The Gyeongbuk Provincial Police Agency's Special Investigation Unit on Real Estate Speculation announced on the 7th that they have arrested A (55), a section chief-level public official of Yeongcheon City, on charges of violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission.

Daegu District Court Chief Judge Kang Kyung-ho, in charge of warrants, held a pre-arrest suspect interrogation (warrant review) for A on the same day and issued an arrest warrant, stating "there is a risk of evidence destruction and flight."

A, who worked in the urban planning-related department, purchased approximately 350㎡ of land in the Changgu-dong area of Yeongcheon City, a planned road expansion site, in July 2018. Among this, about 70㎡ was included in the road expansion section, and it is reported that he received compensation of approximately 160 million KRW in September last year.

The police conducted a search and seizure at Yeongcheon City Hall and other locations on the 14th of last month, securing related materials and accelerating the investigation by analyzing them.