Choo Mi-ae, who has been discussing real estate daily, orders strict action against real estate speculation offenders

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] The Ministry of Justice has instructed the prosecution to take strict action against illegal real estate speculation offenders.

This appears to reflect the will of Minister of Justice Choo Mi-ae, who recently showed interest by posting opinions on real estate issues on her social networking service (SNS) account.

On the 22nd, the Ministry of Justice announced that it issued such instructions to the prosecution in consideration of the recent sharp rise in real estate prices in some areas due to various illegal activities by speculative forces such as real estate specialized private equity funds aiming for short-term capital gains.

The Ministry of Justice broadly defined five types of illegal real estate activities: ▲ illegal acts by financial speculative capital such as planned real estate and real estate specialized private equity funds ▲ unauthorized development in greenbelt areas and farmland ▲ nominee transactions ▲ illegal real estate brokerage activities ▲ tax evasion related to real estate, and added that the prosecution was ordered to crack down, investigate, and thoroughly recover criminal proceeds.

Earlier, on the 20th, Minister Choo wrote on her Facebook SNS, "If the economy is running like a gambling table with real estate, and the Minister of Justice crosses her arms and remains silent, wouldn't that rather be neglect of duty?"

On the 18th, she first mentioned real estate policy by proposing a 'financial-real estate separation policy.' When controversy arose over the unusual mention of real estate policy by the Minister of Justice, she rebutted on the 19th, saying, "The Minister of Justice, as a member of the State Council, can express opinions on major national policies."

This content was produced with the assistance of AI translation services.