Minister of Land, Infrastructure and Transport Byeon Chang-heum summoned to the National Assembly... Lee Nak-yeon urges "thorough investigation"
Minister Byeon Chang-heum of the Ministry of Land, Infrastructure and Transport Meets with Lee Nak-yeon, Democratic Party Leader
Lee Nak-yeon Urges "Thorough Investigation Without Prejudice"
Minister of Land, Infrastructure and Transport Byeon Chang-heum is entering the office of Representative Lee Nak-yeon on the 4th at the National Assembly for a meeting. Photo by Yoon Dong-joo doso7@
View original image[Asia Economy Reporter Koo Chae-eun] Land speculation allegations involving the Korea Land and Housing Corporation (LH) have led to Minister of Land, Infrastructure and Transport Byeon Chang-heum being summoned to the National Assembly.
On the 5th, Lee Nak-yeon, leader of the Democratic Party of Korea, ordered Minister Byeon to conduct a thorough investigation into the allegations of pre-speculation on new towns by LH employees. That morning, Lee summoned Minister Byeon and Jang Chung-mo, acting president of LH, to address the pre-speculation allegations related to new towns. After meeting with Lee, Minister Byeon told reporters, “(Lee) instructed a thorough investigation. We must investigate thoroughly and according to principles without any prejudice, and disclose the results to the public.”
Earlier, Lee had stated on Facebook the previous day, “The government will conduct a strict full-scale investigation targeting all 3rd phase new towns, and I will closely monitor the results. If the speculation allegations are proven true, I demand the government use all legal means to impose the strongest possible punishment.” He added, “Depending on the investigation results, strict and resolute measures that the public can accept will be taken.”
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Within political circles, the LH scandal is being taken very seriously. The opposition party is even discussing the possibility of Minister Byeon’s dismissal. The gravity of the situation stems from the fact that LH employees, who are the main agents of housing supply and executors of new town projects, are alleged to have systematically participated in real estate speculation, which is considered the ‘Achilles’ heel’ of the Moon Jae-in administration. President Moon Jae-in also ordered a joint investigation by the Ministry of Land, Infrastructure and Transport under the Prime Minister’s Office to conduct a full-scale land transaction investigation involving 3rd phase new towns, the Ministry, and families of public institution employees.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
