Incheon City Submits List of 645 Officials Responsible for Gyeyang New Town to Government Joint Investigation Team

Representatives from various regions and residents affiliated with the National Solidarity Countermeasure Council for Public Housing Districts (Gongjeonhyeop) held an emergency press conference on the 10th in front of the land suspected of speculation by LH employees in Gwarim-dong, Siheung-si, Gyeonggi Province, condemning LH Corporation and urging the complete cancellation of the 3rd New Town public housing districts. 2021.3.10 / Siheung - Photo by Kim Hyunmin kimhyun81@

[Asia Economy Reporter Park Hyesook] Regarding the government's investigation into land transactions in the 3rd phase new towns, Incheon City has submitted the list of employees in charge of the Gyeyang New Town project to the government joint investigation team.

On the 12th, the city announced that it had collected consent forms for personal information from 645 employees responsible for the Gyeyang Technovalley project, a 3rd phase new town, and submitted them to the Ministry of Land, Infrastructure and Transport. By institution, there are 137 from Incheon City, 56 from Gyeyang District, and 452 from Incheon Urban Corporation.

The joint investigation team plans to review land transaction records of these employees in the new town area, and if any employee involved in transactions is found, they will refer the case to the government joint special investigation headquarters to determine whether speculation occurred. Additionally, the investigation of land transactions involving their spouses and direct ascendants will also be transferred to the special investigation headquarters.

According to the first investigation results announced the previous day by Prime Minister Chung Sye-kyun and the government joint investigation team, there were no employees of Korea Land and Housing Corporation (LH) owning land in the Gyeyang New Town site among the six 3rd phase new towns.

However, speculation suspicions due to information leakage are strongly raised as land transactions in Gyeyang Technovalley also surged sharply just before the announcement of the new town location.

According to the Korea Real Estate Board's real estate transaction system, the pure land transaction volume in Gyeyang District in November 2018, the month just before the new town announcement, was 336 parcels, marking the highest monthly record in 2017-2018. This is 2.9 times the 116 parcels traded during the same period in 2017.

An Incheon City official stated, "We will actively cooperate with the government joint investigation team and the joint investigation headquarters to strictly punish speculation suspicions involving public officials and employees of public enterprises," adding, "The investigation results concerning Incheon City personnel will be announced later by the government joint investigation team."

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