Kim Eun-hye: "Among LH employees suspected of prior speculation, 3 work at Gwangmyeong-Siheung Headquarters"

3 of 14 People Disclosed by People's Solidarity and Minbyun
"Work Experience, Public Information Key Clues for Private Use"

The Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Southern Provincial Police Agency conducted a search and seizure on the 9th at the LH headquarters in Jinju, Gyeongnam, the LH Gwacheon-Uiwang Project Headquarters, and the LH Gwangmyeong-Siheung Project Headquarters in connection with the investigation into allegations of land speculation by employees of Korea Land and Housing Corporation (LH) in new towns. The photo shows the LH Gwacheon-Uiwang Project Headquarters on that day. Photo by Moon Honam munonam@

[Asia Economy Reporter Hyunju Lee] It has been confirmed that three employees of the Korea Land and Housing Corporation (LH), who are suspected of land speculation in Gwangmyeong and Siheung, have experience working at the Gwangmyeong-Siheung Headquarters.

According to data submitted by LH to Kim Eun-hye, a member of the People Power Party, on the 12th, among the 14 employees suspected of speculation presented by the People's Solidarity for Participatory Democracy and the Lawyers for a Democratic Society on the 2nd, three individuals?Kim, Kang, and Park?worked at the Gwangmyeong-Siheung Headquarters. Among them, Kim and Kang worked at the Gwangmyeong-Siheung Headquarters between 2010 and 2015 and were responsible for practical tasks during the designation of the Bogumjari district.

Kim worked as a Grade 2 (department head level) employee at the Gwangmyeong-Siheung Headquarters from February 2013 to January 2014, overseeing the department's operations. He was identified as having purchased a 2,739㎡ plot of land at address a, Gwarim-dong, Siheung-si, Gyeonggi-do, on June 27, 2019, together with a person presumed to be a family member.

Kang worked as a Grade 3 (deputy general manager) employee for two years from February 2013 to February 2015, handling land compensation tasks at the Gwangmyeong-Siheung Headquarters. He was the practical manager leading land compensation for the district and an expert responsible for compensation work from 2010 to 2020. He purchased a 5,025㎡ plot of land at address b, Gwarim-dong, Siheung-si, together with another LH employee, and holds shares jointly with his wife.

Park worked at the Incheon Regional Headquarters’ Gwangmyeong-Siheung Project Headquarters from January 2019 to February 2020. From January 2015 to January 2019, he was a Grade 2 employee overseeing the unit’s operations at the Gwacheon Project Team of the Gyeonggi Regional Headquarters, then transitioned to a specialist role and became a wage peak employee from 2019. He purchased a 5,905㎡ plot of land at address c, Mujinae-dong, Siheung-si, Gyeonggi-do, together with three others.

There is speculation that these three, being involved in key tasks of the Gwangmyeong-Siheung district, might have known in advance that the district would be included in the 3rd New Town development. Additionally, from 2015 to 2020, they were responsible for unit management and compensation tasks at the Gwacheon Project Team of the Gyeonggi Regional Headquarters. It is also speculated that they were a core axis providing information to the 'speculation cartel' at the Gwacheon Project Team, which included eight of the 13 employees suspected of prior speculation.

If these three used information obtained through their work for purposes outside their duties, namely speculation, they can be punished under the Special Act on Public Housing. Article 9, Paragraph 2 and Article 57, Paragraph 1 of the Special Act on Public Housing stipulate that anyone who uses information about housing district designation obtained during work for purposes other than intended, or provides or leaks it to others, shall be punished by imprisonment of up to five years or a fine of up to 50 million won.

Representative Kim said, "Whether they used information acquired publicly for private gain is the key condition for punishment, and their work experience at the Gwangmyeong-Siheung Project Headquarters will be an important clue." He added, "Ultimately, this analysis will well explain the process of speculative crimes that deprive young people and residents, who suffer from not being able to own a home, of their assets and future without understanding the reason."

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