Yoo Seung-min: "President Moon, Investigate Oh Keo-don's Family Speculation Allegations Like LH"

"Former Mayor Oh is the Cause of the Busan Mayor By-election"
"It is Unacceptable for Oh Geodon’s Family to Benefit from Gadeokdo Development"

Former People Power Party lawmaker Yoo Seung-min / Photo by Yonhap News

[Asia Economy Reporter Lim Juhyung] Former People Power Party lawmaker Yoo Seung-min urged a strict investigation and legal punishment regarding allegations of large-scale land purchases in Gadeokdo, Busan, by the family of former Busan Mayor Oh Geo-don, in connection with President Moon Jae-in’s order for a thorough investigation into Korea Land and Housing Corporation (LH) employees and their families suspected of speculating on land in the 3rd phase new towns.

On the 3rd, Yoo wrote on his Facebook, "If LH employees or their families involved in land development used undisclosed information to speculate on land, isn’t that like entrusting a fish shop to a cat?" He added, "This is an unforgivable serious crime."

He continued, "However, a similar incident occurred in Busan," and pointed out, "Since the Gadeokdo New Airport was a flagship pledge of former Mayor Oh Geo-don, the land purchases by Oh’s family cannot escape suspicion of speculation."

According to data submitted to People Power Party lawmaker Yoon Han-hong by Busan City and others on the same day, Oh Chi-hoon, president of Daehan Steel and nephew of former Mayor Oh, was confirmed to own 1,488 square meters of land near the planned site of the new airport in Gadeokdo. This has raised suspicions that Oh’s family may have purchased land near the new airport site for speculative purposes.

Regarding this, former lawmaker Yoo criticized, "Oh Geo-don is the cause of the by-election that cost as much as 26.7 billion won," and questioned, "Can the public accept that his family benefits from the hastily arranged Gadeokdo New Airport development for election purposes?"

An aerial view of Gadeokdo in Gangseo-gu, Busan, where a new airport construction is being promoted, and Busan New Port. / Photo by Yonhap News

He further urged, "Why are President Moon Jae-in and Lee Jae-myung silent about the land speculation by Oh Geo-don’s family in Gadeokdo?" and said, "The President and Lee Jae-myung should say, just as they did regarding LH’s land speculation, that a strict investigation and legal punishment must be carried out for the land speculation by Oh’s family."

Meanwhile, President Moon ordered a full investigation into land transactions involving LH employees and their families working in new town development areas such as Gwangmyeong and Siheung, amid speculation of land speculation.

Kang Min-seok, Blue House spokesperson, said at a briefing at the Chuncheon Press Center in the afternoon, "President Moon Jae-in gave three instructions to the government regarding the new town speculation allegations."

According to Spokesperson Kang, President Moon instructed the Prime Minister’s Office to lead the full investigation, deploying sufficient personnel jointly with the Ministry of Land, Infrastructure and Transport to conduct a thorough investigation leaving no suspicion.

He also ordered strict responses such as requesting investigations if illegal activities are confirmed, and the preparation of institutional measures to prevent speculation related to new land development in advance.

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