People Power Party Real Estate Speculation Investigation Special Committee: "President Must Order Prosecutors to Conduct Direct Investigation"

"If the President Has the Will, It Can Be Done Immediately"
Possible by Amending Presidential Decree Regulations

Likely to Blame Past Governments and Deflect
"The People Will Judge... Hope They Face the Cause of Public Outrage"

Kwon Seong-dong, People Power Party member of the Special Committee on Real Estate Speculation Investigation [Image source=Yonhap News]

[Asia Economy Reporters Hyunju Lee and Juni Park] The Special Committee on Real Estate Speculation Investigation of the People Power Party demanded on the 10th that the prosecution conduct a direct investigation into the Korea Land and Housing Corporation (LH) speculation scandal, stating that the President should order this.

Kwon Seong-dong, chairman of the special committee and a member of the People Power Party, held a press conference that morning and said, "This case is a major corruption and economic crime, and the prosecution's investigative capabilities, which have accumulated experience in such investigations, are urgently needed." He added, "Since there is a possibility that additional involvement of high-ranking public officials may emerge during the investigation, the President Moon Jae-in should instruct the prosecution to directly investigate, rather than categorically stating that it is not within the prosecution's jurisdiction."

In a statement, Chairman Kwon said, "If the adjustment of investigative authority between the police and prosecution is used as an excuse to say it cannot be done, then the presidential decree should be amended immediately." He explained, "The six major crimes that the prosecution can investigate in a limited manner are stipulated not by law but by the 'Regulations on Crimes Subject to Prosecution Investigation' under a presidential decree. We demand that this be amended to include 'cases attracting social attention due to corruption related to the formulation of important government policies' as subjects of direct prosecution investigation."

He emphasized, "If the President has the will, this can be done immediately."

Furthermore, he said, "Was the adjustment of investigative authority between the police and prosecution made to prevent any action?" He revealed, "It has already been uncovered that a direct family member of a current Democratic Party lawmaker purchased land near the 3rd New Town in Gwangmyeong. The investigation should not be limited to the LH employees currently exposed; if an investigation is conducted, there is a possibility that additional involvement of high-ranking public officials will emerge." He also demanded that the Ministry of Land, Infrastructure and Transport be excluded from the joint investigation team and be subject to investigation instead.

Chairman Kwon expressed, "Given the Moon Jae-in administration's behavior of blaming past governments whenever unfavorable incidents occur, there is a very high possibility of deflecting responsibility by mentioning previous administrations." He added, "The public will make the judgment. The Moon Jae-in administration must face where the root cause of the public outrage over this incident lies."

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