[Asia Economy Reporter Kim Hye-min] The Citizens' Coalition for Economic Justice (CCEJ) announced on the 18th that it has referred 36 cases of suspected real estate speculation involving public officials, including members of the National Assembly, local government heads, and employees of the Korea Land and Housing Corporation (LH), to the police.
CCEJ opened the 'CCEJ Public Officials Real Estate Speculation Reporting Center' on March 17 and received about 51 reports of speculation suspicions over approximately two months until this day. Among these, 36 cases deemed to require investigation were selected and referred to the police for investigation in three rounds, they explained.
Analyzing all reports by real estate type, there were 4 cases involving buildings, 12 cases involving farmland, 7 cases involving apartments including pre-sale rights, 24 cases involving land, and 4 cases involving houses, with land and farmland accounting for the majority. By type, many cases involved speculation using development information, and there were also numerous suspicions of violations of the Farmland Act and redevelopment corruption.
The individuals suspected of speculation were diverse, including members of the National Assembly, local government heads, local council members, and employees of LH and Seoul Housing and Communities Corporation (SH).
By region, there were 21 cases in the metropolitan area, with Gyeonggi Province accounting for 13 cases, representing 25% of the total. Reports were also received from Gwangmyeong and Siheung, where the LH scandal occurred. Seoul had 7 cases.
CCEJ stated, "The Seoul Metropolitan Police Agency and local police agencies are investigating the cases reported by CCEJ," and added, "We are awaiting citizen reports to eradicate real estate speculation by public officials."
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