Police Expand Comprehensive Internal and External Investigation into 'LH Speculation Allegations'... "Reviewing Around 100 People"

16 Investigations Underway
Including Public Officials and LH Employees
Investigation Targets Expanded to Relatives
Report Center to Launch Next Week

Officials from the Ministry of Land, Infrastructure and Transport visited the National Investigation Headquarters of the Seoul Metropolitan Police Agency in Seodaemun-gu, Seoul, on the afternoon of the 11th to request an investigation into suspects involved in land speculation allegations related to the Korea Land and Housing Corporation (LH). Photo by Moon Honam munonam@

[Asia Economy Reporter Lee Gwan-joo] Suspicion of speculative investment in new towns by employees of Korea Land and Housing Corporation (LH) is expanding into comprehensive internal and external investigations. The 'Government Joint Special Investigation Headquarters (Joint Investigation Headquarters),' organized around the National Police Agency's National Investigation Headquarters (NIH), is currently examining speculation suspicions involving about 100 public officials, LH employees, and others.

A senior NIH official stated on the 12th, "As of this morning, internal and external investigations are underway for 16 cases," adding, "About 10 of these are being conducted based on intelligence we have independently recognized." The number of people currently under investigation is about 100, including public officials and LH employees.

Additionally, the Joint Investigation Headquarters includes 18 members from the National Tax Service, 5 from the Financial Services Commission, and 11 from the Korea Real Estate Board, totaling 34 personnel supporting the police investigation. The police report center related to speculation suspicions is also expected to begin full-scale operation starting next week.

In particular, real estate transaction details involving relatives and others will also be reviewed. The official said, "We have not received any materials handed over from the government joint investigation team," but added, "We are requesting and analyzing data from related agencies and will verify them, including family and relatives as subjects of investigation." According to the police, even in the case of private individuals, if internal transaction information is received or illegal activities are confirmed, they will be included in the investigation targets.

Regarding the ruling party's announcement to push for the introduction of a special prosecutor related to this case, the official said, "If a special prosecutor is appointed, usual data requests will be handled accordingly, and the investigation headquarters will continue separately."

The official emphasized, "For cases that have been reported or requested for investigation, we plan to continue strict investigations using dedicated investigation teams from the provincial police agencies," adding, "The investigation team will also analyze and thoroughly investigate cases involving proxy transactions and transactions with relatives."

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