People Power Party "LH Employee Speculation Allegations, Formation of Real Estate Speculation Investigation Special Committee"

Assemblyman Kwon Seong-dong to Chair Special Committee
Push for Amendment of Related Laws Including Mandatory Asset Registration for Executives and Employees Involved in Public Development Tasks

[Asia Economy Reporter Naju-seok] The People Power Party has decided to form an internal ‘Real Estate Speculation Investigation Special Committee’ to investigate allegations of speculation by employees of the Korea Land and Housing Corporation (LH) in new towns. The party also plans to push for legal amendments to mandate asset registration for executives and employees involved in public development-related work.

Joo Ho-young, floor leader of the People Power Party, is attending the party floor strategy meeting held at the National Assembly on the 9th, greeting the attending lawmakers with a hand wave. Photo by Yoon Dong-joo doso7@

On the 9th, Joo Ho-young, the floor leader of the People Power Party, criticized, "The LH speculation scandal is not merely a livelihood economic issue but an antisocial crime that shakes the public trust of the nation, as well as a national public crime that abuses the country’s public information."

Regarding this, Floor Leader Joo said, "We will form the Real Estate Speculation Investigation Special Committee with Representative Kwon Seong-dong as the chairperson to continue the investigation. At the same time, we will thoroughly fill any gaps through legal amendments, such as mandating asset registration for all executives and employees of related institutions involved in public development work, introducing prior approval for land transactions, and strengthening punishments."

The special committee will include People Power Party lawmakers such as Representative Kwon, Lee Heon-seung, Kwak Sang-do, Yoon Han-hong, Song Seok-jun, Kim Eun-hye, Yoon Hee-sook, and Seo Beom-su.

Additionally, Floor Leader Joo stated, "It is a situation where attention is focused on how many more suspects of speculation will emerge, including from the Ministry of Land, Infrastructure and Transport," and criticized, "Following criticism of the joint investigation team’s self-investigation, there is no reason to exclude the prosecution from the government’s Joint Special Investigation Headquarters (Special Investigation Headquarters)."

Regarding the formation of the Special Investigation Headquarters centered on the National Police Agency’s National Investigation Headquarters, Lee Jong-bae, the chairman of the People Power Party’s Policy Committee, pointed out, "There are already strong voices of concern about whether the National Investigation Headquarters can conduct an objective and neutral investigation under the prime minister’s command."

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