"People's Power Party Directly Criticizes Government Self-Investigation as Untrustworthy"

Special Investigation Committee on Moon Government Land Speculation
Complete Survey Begins in Gwangmyeong and Siheung Areas
Kwon Seong-dong: "Government Investigation is a Diversion Tactic"

On the 9th, the Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Southern Provincial Police Agency conducted a search and seizure at the LH headquarters, Gwacheon-Uiwang Project Headquarters, and Gwangmyeong-Siheung Project Headquarters in connection with the investigation into the 'LH executives and employees' new town speculation allegations.'
The photo shows the Gyeonggi Gwangmyeong Korea Land and Housing Corporation (LH) Gwangmyeong-Siheung Project Headquarters on the afternoon of the same day. 2021.3.9 Photo by Yonhap News

[Asia Economy Reporters Hyunju Lee and Juni Park] The People Power Party has formed an internal team to conduct a comprehensive investigation after allegations surfaced that not only employees of the Korea Land and Housing Corporation (LH) but also figures within the ruling party were involved in speculation related to the 3rd New Town development projects.

On the 12th, according to the Special Committee for the Truth Investigation of the Moon Jae-in Government Land Speculation Gate under the People Power Party, committee members, along with about 20 aides, began investigating speculation allegations in the Gwangmyeong and Siheung areas of the 3rd New Town projects. Under the direction of Committee member Gwak Sang-do, aides from his office as well as aides from proportional representation members not affiliated with the committee are participating. They plan to sequentially examine other areas such as Goyang and Changneung. The investigation will not be limited to employees of the Ministry of Land, Infrastructure and Transport and LH but is expected to expand to include local urban corporations such as the Seoul Housing and Communities Corporation (SH), local governments, and political circles. They will verify the registration status of all land parcels in the relevant districts based on lot numbers.

Committee officials expressed skepticism about the government's announcement made the previous day. The government stated that among approximately 14,000 employees of the Ministry of Land, Infrastructure and Transport and LH, only 20 were investigated, and no suspicious cases of speculation were found among senior aides at the Blue House level or higher. A staff member from a participating lawmaker's office said, "Although there is a limitation in filtering out people with the same name, we will use all possible means, such as obtaining certified copies of registries to check share ratios and transaction price differences, to investigate suspicious cases." Committee Chairperson Kwon Seong-dong said, "The government's investigation results are essentially an attempt to deflect responsibility and cover up," adding, "We will uncover the speculation allegations through this special committee investigation."

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