LH Employee Dismissed for Profiting While Acting as 'Top Land Auction Instructor'

Entrance of the new LH Korea Land and Housing Corporation headquarters. Photo by LH Korea Land and Housing Corporation.

[Asia Economy Reporter Kim Bong-ju] A Korea Land and Housing Corporation (LH) employee, who earned income by working as a land auction instructor on a paid internet site, has been dismissed.

On the 11th, LH held a disciplinary committee meeting and announced that Mr. A, belonging to the Uijeongbu Project Team of the Seoul Regional Headquarters, was dismissed.

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

LH stated that it confirmed misconduct such as receiving compensation through profit-making activities and violation of concurrent employment restrictions, and disciplined Mr. A accordingly.

According to LH, Mr. A promoted himself as "Korea's No. 1 land instructor" and "the top instructor (No. 1 in sales) for land auctions and public auctions." It was reported that he hid his real name and used a pen name while conducting activities.

The "Basic Land Class" he taught was a five-month course, with a tuition fee of 230,000 KRW.

Mr. A promoted, "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. A's actual working period was less than the 18 years of experience he advertised.

As a public enterprise, LH strictly prohibits concurrent employment such as other profit-making activities outside of work.

Following the revelation of Mr. A's case, there are criticisms that a public enterprise employee engaged in profit-making activities as a side job, thereby encouraging speculation.

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.