Prosecutors and Police Join Forces on 'LH Speculation Investigation'... "Close Cooperation from Initial Investigation Stage"

Choi Seung-ryeol (right), Director of the Investigation Bureau at the National Investigation Headquarters, and Lee Jong-geun, Chief of the Criminal Division at the Supreme Prosecutors' Office, are attending a working-level meeting of investigative agencies related to LH land speculation at the Government Seoul Office in Jongno-gu, Seoul, on the 11th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Lee Gwan-joo] Regarding the investigation into allegations of speculative land investment by employees of Korea Land and Housing Corporation (LH), the police and prosecution held their first joint meeting on the 11th to discuss cooperation measures.

The National Investigation Headquarters (NIH) of the National Police Agency and the Supreme Prosecutors' Office held the "Real Estate Speculation Crime Investigation Agencies Working Council" at 10 a.m. at the Government Complex Seoul, chaired by Choi Seung-ryeol, Director of the NIH Investigation Bureau, and Lee Jong-geun, Chief of the Criminal Division of the Supreme Prosecutors' Office.

This council was a follow-up to the emergency meeting of related agencies held the previous day, chaired by Prime Minister Chung Sye-kyun. Prime Minister Chung emphasized that "the entire judicial process from investigation and prosecution to indictment and maintenance of prosecution must proceed without any gaps," and stressed that "organic communication and linkage between the police and prosecution are of utmost importance."

At the council, the police and prosecution agreed to establish a hotline for investigative cooperation. At the senior level, the NIH Investigation Bureau Director and the Supreme Prosecutors' Office Criminal Division Chief will consult on overall investigation directions and major investigative matters, while at the working level, dedicated prosecutors from the jurisdictional prosecution offices and investigative officers responsible at the metropolitan and provincial police agencies will frequently discuss legal reviews and procedural progress related to warrants and specific case handling.

They will also cooperate in responding to warrants and recovering criminal proceeds. Dedicated teams or prosecutors for real estate speculation crimes will be appointed at each prosecution office to promptly process police warrant applications, and the police will pursue recovery of criminal proceeds through pre-indictment seizure and confiscation applications. The prosecution will support the police by organizing legal reviews and investigative methods centered on prosecutors experienced in investigating and maintaining prosecution of real estate speculation crimes. Furthermore, if prosecutors discover crimes subject to investigation during the review of cases transferred by the police, they will also conduct direct investigations.

Both agencies stated, "We will continue to respond strictly to ensure that real estate speculation crimes are eradicated by conducting swift and efficient investigations through organic cooperation in the future."

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