Jeon Hyun-hee, Chairperson of the Anti-Corruption and Civil Rights Commission, "If the Conflict of Interest Prevention Act Had Been Enacted, the LH Scandal Would Not Have Occurred"

"Private Interest Pursuit Can Be Completely Blocked... The National Assembly Must Pass the Law"

Jeon Hyun-hee, Chairperson of the Anti-Corruption and Civil Rights Commission. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] Jeon Hyun-hee, Chairperson of the Anti-Corruption and Civil Rights Commission, emphasized on the 14th regarding the real estate speculation allegations involving employees of Korea Land and Housing Corporation (LH) that "If the Conflict of Interest Prevention Act had been enacted, it could have fundamentally blocked public officials from pursuing private interests."

According to the Anti-Corruption and Civil Rights Commission, Chairperson Jeon appeared on a radio program that day and said, "The National Assembly needs to promptly legislate the Conflict of Interest Prevention Act to respond to the public outrage."

Regarding the controversy over LH employees' real estate speculation allegations, Chairperson Jeon said, "As the head of the anti-corruption agency, I feel very sorry and bear a heavy responsibility for this incident."

She continued, "The Conflict of Interest Prevention Act applies to 2 million public officials," adding, "The National Assembly must pass it with a sense of duty so that all public officials in the Republic of Korea can work solely for the people and public interest without corruption."

In particular, Chairperson Jeon expressed regret, saying, "If the Conflict of Interest Prevention Act had been enacted, private interest declarations and job recusal regulations could have fundamentally blocked public officials from pursuing private interests, and this LH incident would not have occurred at all."

The Conflict of Interest Prevention Act stipulates that those who use confidential information obtained through their duties to pursue private interests may face up to 7 years imprisonment or a fine of up to 70 million won. Unjust profits such as gains from real estate speculation can be fully confiscated or recovered.

Chairperson Jeon stated, "If the Conflict of Interest Prevention Act is enacted this time, our country's Corruption Perceptions Index (CPI) will dramatically improve, making it possible to enter the top 20 worldwide by 2022."

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