"If You’re Upset, Just Change Jobs," "Is There a Law Against Investing?" Citizens Outraged by LH Employees' 'Series of Outrageous Remarks'

LH says "Blind poster likely not an LH employee"
Expert: "Public anger over unfairness... undermines trust in our society"

The photo shows the Korea Land and Housing Corporation (LH) Gwangmyeong-Siheung Project Headquarters in Gwangmyeong, Gyeonggi Province. [Image source=Yonhap News]

[Asia Economy Reporter Heo Midam] "Anyway, it will be forgotten after a month or two.", "Is there a law that LH employees can't invest?"

As allegations of land speculation by employees of Korea Land and Housing Corporation (LH) in new towns have surfaced, some employees' brazen attitudes are causing public outrage. Rather than showing remorse, they are making statements that seem to defend speculation on the anonymous workplace community 'Blind,' sparking controversy. In particular, some employees used vulgar language and made mocking remarks such as "You couldn't get into (LH) because you weren't good at studying, yet you pick on us," causing a stir.

Especially young people who wish to own their own homes are expressing not only anger but also feelings of relative deprivation and despair over this incident. Experts point out that the anger of the younger generation ultimately stems from unfairness.

Recently, a post presumed to be from an LH employee appeared on the anonymous workplace community 'Blind.' Blind requires authentication through the company's email account to join and post.

In a post titled "No one inside cares," the author wrote, "Everyone thinks that after a month or two, people will forget and it will pass like water. I feel the same," adding, "Even if you dig, all the new town land was purchased under borrowed names, so how could you find (evidence of speculation)?"

He continued, "No matter how angry (the public) gets, I will continue to comfortably work until retirement while speculating under borrowed names," and sarcastically said, "This is our company's benefit and welfare. If you're jealous, transfer to our company." Finally, he said, "You couldn't get into (LH) because you weren't good at studying, yet you pick on us. Extremely disgusting."

This is not the first time LH employees have made such outrageous remarks. On the 8th, when angry farmers held a protest and press conference in front of LH's Jinju headquarters in Gyeongnam over speculation allegations, one employee sneered, "It's on the 28th floor, so I can't hear anything," calling it 'gaekkul' (a slang term meaning 'awesome').

Controversial posts defending LH speculation allegations have been posted on 'Blind,' an anonymous community for office workers. Photo by Blind capture.

The public outrage over the LH scandal is growing even stronger due to the employees' lack of remorse. Especially the 20s and 30s generation, who have dreamed of owning their own homes, expressed feelings of deprivation caused by this incident.

Office worker Jung (28) said, "At first, I was angry when I saw the LH scandal, but now I feel empty. In the end, only those who didn't speculate and lived honestly became fools," adding, "Looking at the posts on Blind, LH employees don't seem to be remorseful. To prevent this from happening again, everyone involved should be strictly punished."

Another office worker Oh (26) said, "It's an unfair world. It is no different from stealing the dreams of young people who believed that if they worked hard, they could someday own a home," and lamented, "I don't know what I have been struggling for until now."

On the 4th, posts defending speculation allegations also appeared on 'Blind,' causing a stir. That day was also when LH issued a public apology regarding employees' land speculation allegations in new towns.

An LH employee claimed that day, "Is there a law that says you can't invest in real estate?" and "Whether it was illegal speculation using insider information or investment based on one's own study is a matter for the courts or prosecutors to decide."

Another employee said, "Among more than 10,000 employees, some who bought land in Gwangmyeong might have been caught, but it's noisy as if insider information was definitely abused," adding, "Frankly, isn't there at least one employee working in other public enterprises or government offices who bought land in Gwangmyeong?"

As the controversy continued, LH explained in a press release, "It is highly likely that the Blind poster is not a current LH employee," and "Due to the structure of Blind's operation, accounts of dismissed, fired, or retired employees may still be active."

They added, "Our executives and employees are taking the current situation seriously," and "Unlike the post, all LH employees recognize the seriousness of the situation. They fully agree with thorough investigations, strong punishment of suspects, and prompt implementation of measures to prevent recurrence."

Experts pointed out that public anger over unfairness ultimately undermines trust in our society.

Professor Kwak Geumju of Seoul National University's Department of Psychology said regarding the LH scandal, "Those in power with information wielded their power. In other words, although they had responsibilities and duties, they used authority as power."

She continued, "Because of this incident, ordinary people have fewer opportunities to buy land. The backlash against this is very serious. When justice and fairness disappear from our society, it ultimately becomes a society that cannot be trusted."

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