Sim Sang-jung: "People Furious Over Ruling and Opposition Ping-Pong Game... Full Real Estate Investigation of All Elected and Former Officials"

[Asia Economy Reporter Oh Ju-yeon] On the 14th, Sim Sang-jung, a member of the Justice Party, emphasized, "Our people are furious in front of the ping-pong game played by the Democratic Party of Korea and the People Power Party regarding real estate speculation allegations," and stated, "Beyond a full survey of National Assembly members, a full survey of all elected public officials, including governors, mayors, city council members, and provincial council members, must be conducted."

Sim Sang-jung, former leader of the Justice Party, is attending a party meeting held at the National Assembly on the 2nd and delivering opening remarks. Photo by Yoon Dong-joo doso7@

Sim, the chairperson of the Justice Party's 'Special Committee for the Dismantling of the Real Estate Speculation Republic,' said in the opening remarks of the first meeting held that day, "High-ranking officials of the central government, including ministers and vice ministers, as well as senior officials of local governments, should also be subject to a full survey," adding, "It should include both former and current officials without distinction."

He further urged the government joint investigation team to expand the investigation targets to include related elected officials and appointed officials during the period from 2013 to 2018, as the investigation period for the third new town project was set within those years.

Sim pointed out, "South Korea, where real estate speculation and enormous unearned income are rampant, is no longer a republic for ordinary people who live and work hard every day," and said, "The Justice Party is embarking on dismantling the speculation republic with the spirit of promoting a socio-economic revolution."

Accordingly, he proposed four directions of action: thoroughly investigating the Korea Land and Housing Corporation (LH) real estate speculation case, drastically changing the government's housing supply policy direction, a full review of the 2.4 Housing Supply Plan, and a complete innovation of the national policy system, including the establishment of a new Ministry of Urban Housing.

Sim emphasized, "LH, which has effectively encouraged and even participated in real estate speculation until now, must have its functions redefined at the level of dismantlement," and added, "Along with innovating the speculation response system, the Conflict of Interest Prevention Act and the Public Officials Ethics Act should be supplemented together to establish a system to eradicate speculation and strictly punish corruption."

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