Gangwon Provincial Police Agency Operates 'Real Estate Speculation Task Force'

Intensive Crackdown on Speculative Activities by Local Government Officials and Public Institution Employees

[Asia Economy Reporter Ra Young-cheol] The Gangwon Provincial Police Agency is operating a 'Real Estate Speculation Task Force.'

On the 13th, the Gangwon Provincial Police Agency announced, "We have organized 27 investigators under the leadership of the head of the investigation division (Chief Inspector Kim Dong-hyeok) to intensively crack down on real estate speculation and thoroughly track speculative funds and criminal proceeds for confiscation and recovery."

The Gangwon Police plan to focus on cracking down on real estate speculation activities aimed at compensation profits, such as the illicit use of internal real estate information by public officials and employees of public institutions, illegal acquisition of farmland in development areas nationwide, and illegal land alteration.

They will also crack down on various real estate market disruption activities, including false transaction reports followed by cancellations, price manipulation through collusion, illegal resale, nominee transactions, unregistered resale, and illegal brokerage.

Kim Dong-hyeok, head of the Gangwon Police Task Force, urged, "Since the illicit use of internal real estate information often occurs secretly, we ask for active tips and reports through the 'Real Estate Speculation Reporting Center,' including whistleblowing." (Anti-Corruption Economic Crime Investigation Unit 033-248-0785)

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