Suspicion of 'False Advertising' at a Housing Association in Gwangju... Police Investigation

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] A local housing cooperative in the Gwangju area is under police investigation following allegations that it recruited members through false advertising.

On the 29th, the Gwangju Western Police Station announced that it is investigating after receiving a complaint accusing the representative of the local housing cooperative promotion committee in Geum-dong, Dong-gu, Gwangju Metropolitan City, and the representative of the business agency of deceiving members by presenting the project as a general sale business.

The complaint also reportedly includes allegations that 'although the land acquisition rate for the project site was less than 20%, it was promoted as having secured more than 80%.'

Among the complainants was a former chairman of the cooperative.

The police plan to investigate whether there were any false or exaggerated advertisements during the member recruitment process by questioning related parties.

The local government in charge, Dong-gu, has issued administrative instructions to the cooperative to actively accept refund requests from members who were deceived by the advertisements.