Two Consecutive Employee Deaths, Public Outrage and Calls for Dissolution... The Somber 'LH'

LH Employee Found Dead in Paju That Day
Two Consecutive Days of Employee Deaths Following Previous Day...Shock
Anger Over Speculation of Speculation by 20 Employees, Increased Pressure for Investigation

The Gyeonggi Regional Headquarters of LH in Seongnam-si, Gyeonggi-do, where Mr. A, former head of the Jeonbuk branch of Korea Land and Housing Corporation (LH), took his own life on the 12th. (Photo by Yonhap News)

[Asia Economy Reporter Moon Jiwon] At Korea Land and Housing Corporation (LH), which is under investigation by the government joint special investigation headquarters (합수본) for new town speculation allegations, an employee was found dead for the second consecutive day.

LH is facing increasing internal pressure as incidents of speculation allegations and inappropriate remarks by some employees, calls for organizational dissolution, and now employee deaths have occurred one after another.

According to the police and LH on the 13th, around 10 a.m. that day, an LH employee identified as A (58) was found dead by local residents near a farm shed in Sanbang-ri, Beopwon-eup, Paju, Gyeonggi Province.

A was an active employee belonging to the LH Paju headquarters and was reportedly under investigation for real estate speculation since the 11th.

A police official explained, "The Special Investigation Unit for Real Estate Speculation Crimes of the Northern Gyeonggi Police Agency was scheduled to verify the facts, but the investigation has not yet started," adding, "There has been no contact or communication from the police."

On the previous day, a senior LH employee also took their own life.

B (56), who had served as the head of the LH Jeonbuk headquarters and was working as a senior expert committee member one year before retirement, jumped from his home in Bundang-gu, Seongnam-si, Gyeonggi Province, at around 9:40 a.m. the day before.

His suicide note reportedly contained the phrase, "I deeply feel responsible as the regional head."

Neither A nor B has been directly linked to the new town speculation allegations. However, it is known that the incidents occurred amid growing public criticism and investigative pressure surrounding LH, causing significant shock within the organization.

Prime Minister Chung Sye-kyun is answering questions after announcing the results of the first comprehensive investigation into LH employees' speculation on new towns at the Government Seoul Office in Jongno-gu, Seoul, on the 11th. Photo by Kang Jin-hyung aymsdream@

LH, at the center of speculation allegations and controversy, is in a somber mood amid ongoing setbacks.

Prime Minister Chung Sye-kyun strongly criticized on the 11th, saying, "LH and its employees who caused this problem must answer the public's criticism about whether such an institution is still necessary," adding, "Public trust in LH has fallen irreparably."

The government has also announced plans for a strong structural reform of LH after the first investigation into the 3rd new town land speculation allegations revealed that 20 LH employees were involved in speculation.

In political circles, there are discussions about dismantling LH or separating it at a similar level. LH was actually established in 2009 through the merger of Korea Housing Corporation (Jugoong) and Korea Land Corporation (Togong), and with nearly 10,000 employees and assets worth approximately 184 trillion won, concerns about corruption possibilities have been raised.

Recently, inappropriate remarks presumed to have been posted by LH employees on 'Blind,' an anonymous online community for office workers, have also drawn public criticism.

Amid these adverse conditions, it is known that many LH employees who have worked diligently and are unrelated to speculation feel a great sense of loss. An LH official said, "We are well aware of the public's anger over the recent speculation allegations," adding, "We will reflect deeply to ensure such incidents never happen again and will continue internal reform efforts."

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