Declining Trust Amid LH Speculation... Byeon Chang-heum Announces "Integrity Measures Implementation"

LH Employee Suspected of 10 Billion Won Pre-emptive Speculation in Gwangmyeong-Siheung
Ministry of Land and Affiliates Also Failed Integrity Evaluation Last Year
Byun Chang-heum: "Integrity Is Pride... Policy Trust Collapsed"

Minister of Land, Infrastructure and Transport Byeon Chang-heum is responding at the full meeting of the Land, Infrastructure and Transport Committee held at the National Assembly on the 22nd of last month.
[Image source=Yonhap News]

[Asia Economy Reporter Moon Jiwon] Following a low score in last year's public institution integrity evaluation, the Ministry of Land, Infrastructure and Transport (MOLIT) has decided to implement stringent 'integrity measures' after recent allegations surfaced that employees of its subsidiary, Korea Land and Housing Corporation (LH), engaged in advance speculation worth over 10 billion won in the Gwangmyeong-Siheung district.

On the 2nd, Minister Byeon Chang-heum held a meeting with heads of public enterprises and quasi-governmental institutions under the ministry at the Government Sejong Complex to announce these plans.

Minister Byeon stated, "Last year's integrity measurement results for MOLIT were very low, and the integrity levels of subsidiary public institutions were also evaluated as low except for a few organizations," adding, "While negative sentiments toward policies may have contributed to the poor integrity evaluations, the uncomfortable truth is that some dishonest behaviors still exist."

He continued, "Integrity is our pride," emphasizing, "Even if we work hard to create and implement good policies, if the public perceives our organization as lacking integrity, trust in those policies will collapse."

He said, "MOLIT plans to implement strong integrity measures this year to achieve zero corruption experience rate," and "especially based on last year's integrity evaluation results,

the corruption experience rate in headquarters operations was high, so we will strengthen communication with related organizations and strive to eradicate power abuse."

Minister Byeon also addressed the recent allegations of advance speculation by LH employees. He said, "Reports have emerged in the media that LH employees engaged in advance speculation in the Gwangmyeong-Siheung district," adding, "Regardless of the facts, it is a time when all heads of institutions must be vigilant and work harder to establish an honest organizational culture."

To prevent such incidents, MOLIT and its subsidiaries held a 'Integrity Practice Agreement Ceremony' after the meeting.

Meanwhile, MOLIT and its subsidiaries have decided to invest 41.8 trillion won across all sectors including airports, railroads, roads, and public housing construction this year to overcome COVID-19 and revive the economy.

Additionally, to ensure housing stability and regional development, they selected four core tasks: ▲Achieving inclusive housing stability through housing innovation ▲Balanced national development where local areas and the metropolitan area coexist

▲Innovation in the land and transport industry for leading economic advancement ▲Protecting citizens' lives in land and transport fields.

Minister Byeon urged, "I hope you will produce tangible results, create policies together, share the vision, and actively implement them on the ground so that the public can feel the effects firsthand."

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