'Land Auction Top Instructor' LH Employee Ultimately Dismissed

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] Amid the moral hazard of Korea Land and Housing Corporation (LH) employees exposed by the speculative scandal in the 3rd New Town development, an LH employee who earned extra money by working as a land auction instructor on a paid online site has been dismissed.

On the 11th, LH held a disciplinary personnel committee and announced the dismissal of Mr. Oh, who belonged to the Uijeongbu Project Team of the Seoul Regional Headquarters.

Mr. Oh was caught working as a land auction and public auction instructor on a paid lecture site related to real estate investment and has been under internal investigation since the end of January.

LH explained that through data investigation and face-to-face interviews with the person involved, they confirmed Mr. Oh’s misconduct, including receiving compensation through profit-making activities and violating restrictions on concurrent positions, and proceeded with disciplinary measures.

Mr. Oh promoted himself as "Korea’s No. 1 land instructor" and "the top instructor (No. 1 in sales) for land auctions and public auctions," hiding his real name online and using a pen name while conducting his activities.

The "Basic Land Class" led by Mr. Oh was a five-month course with a tuition fee reaching 230,000 KRW. He introduced himself by saying, "The start of stable investment is land investment," and "With 18 years of experience in a real estate investment company, I understood land and proceeded with numerous profit realizations and investments related to land."

However, it was confirmed that Mr. Oh’s actual working period was less than 18 years, revealing that his career was exaggerated.

LH strictly prohibits concurrent employment such as other profit-making activities outside of work according to its regulations. LH stated, "Employees who commit misconduct that is not in line with the duties of public officials will be thoroughly investigated and punished without leniency according to the principle of zero tolerance."

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