Ten People Including LH Employees Sentenced to Prison and Fines for Real Estate Speculation in Gangneung

Ten individuals, including employees of Korea Land and Housing Corporation (LH), who were indicted on charges of real estate speculation in the Yucheon district of Gangneung City, Gangwon Province, were sentenced to imprisonment and fines.

According to Yonhap News Agency, on the 10th, the Criminal Division 2 of Chuncheon District Court (Chief Judge Lee Dong-hee) sentenced Park (60), who was indicted on seven charges including obstruction of business and bribery, to two years in prison. Lee (59), indicted on charges of accepting bribes after improper handling, was sentenced to eight months in prison with a two-year probation and fined 10 million won.

Eight others, including Kang (60), known as the so-called 'Gangsajang,' seven LH employees, and one executive of the Livestock Cooperative, were fined 5 million won each.

Park, who was an LH director, was indicted on charges of acquiring land in the Yucheon district using non-public development information and earning more than 600 million won in market price gains. Lee, who was an LH manager, was indicted on charges of improperly handling resale approval tasks and pocketing 7 million won in cash. Kang and seven others who participated in the crime with Park were also prosecuted for obstruction of business and other charges.

The court explained the sentencing reason for Park, stating, "Despite committing the crime from a leading position, he showed a very poor attitude by shifting responsibility to other defendants during the investigation process, justifying and covering up his actions, and not admitting his wrongdoing. The nature of the crime is very serious, and his conduct after the crime is also very unfavorable."

Meanwhile, the court acquitted Park, Kang, and one other person of charges under the Act on the Prevention of Corruption and the Establishment and Management of the Anti-Corruption and Civil Rights Commission, stating that it was difficult to recognize the charges based solely on the evidence submitted by the prosecution. The court also acquitted Park of the charge of breach of trust in office.