"Supported by the Political Sphere... Symbiotic Relationship" Professor Yu Hyun-jun Criticizes the 'LH Scandal'

Professor Yoo Hyun-joon, Hongik University. Photo by YouTube 'JipconomyTV' capture

[Asia Economy Reporter Han Seung-gon] Urban expert Professor Yoo Hyun-joon of Hongik University criticized the allegations of speculation by Korea Land and Housing Corporation (LH) employees regarding the '3rd New Town' on the 12th, saying, "The core of the (LH incident) seems to be a problem of the system," and added, "The reason LH has gradually gained excessive power like this is because it was pushed by the political circles."

Professor Yoo appeared on CBS Radio's 'Kim Hyun-jung's News Show' that day and pointed out about the LH incident, "It is time to take a look at why such a system is being established."

Earlier, on the 6th of last month, Professor Yoo had pointed out on the YouTube channel 'Jipconomy TV' that "The only people who like new towns are the local district lawmakers and LH employees."

This remark became a hot topic among netizens as the recent allegations of land speculation by current and former LH employees in the Gwangmyeong and Siheung new towns in Gyeonggi Province surfaced, with many saying the expert's judgment was ultimately accurate.

In particular, when asked by the host whether the cause of the LH speculation allegations was "corruption occurring within the collusion between the political circles and LH," Professor Yoo responded, "I think there is such a structural problem," pointing out that it is an issue of organization and system.

He continued, "Among those who benefit the most are LH employees, but behind them, there are politicians who hold all the power," and claimed, "One of the people who greatly influence new town development is the lawmakers involved with the Ministry of Land, Infrastructure and Transport."

He explained, "(Lawmakers) can also influence LH's personnel rights, so (LH employees) would think that they need to develop certain policies as part of a particular lawmaker's faction," adding, "Naturally, a symbiotic relationship is formed."

Regarding Prime Minister Chung Sye-kyun's statement the day before that "LH needs a complete overhaul to the level of disbandment," Professor Yoo said he "agrees," but evaluated, "I think the public sector will have its limits no matter how much it tries to reform."

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