Police Conduct Search and Seizure at Homes of Siheung City Council Member and Gwangmyeong City Official over Speculation Allegations

The Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Nambu 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 Lee Gwan-ju] The police launched a forced investigation on the 15th by conducting a search and seizure against a Siheung City council member and a Gwangmyeong City official who were suspected of real estate speculation.

The Special Investigation Unit for Real Estate Speculation Crimes of the Southern Gyeonggi Provincial Police Agency sent 24 investigators to five locations, including the homes and offices of Siheung City Council member A, affiliated with the Democratic Party of Korea, and Gwangmyeong City Hall official B, starting from 10 a.m. that day.

Earlier, the Association of Judicial Examination Preparers (Sajunmo) filed a complaint with the police, alleging that council member A and her daughter purchased land in the Gwarim-dong area of Siheung City, Gyeonggi Province, a planned site for the 3rd New Town development, and built commercial buildings to gain speculative profits.

Also implicated was official B, who caused controversy after it was revealed that in early July last year, he purchased 793㎡ of forest land in Gahak-dong, Gwangmyeong City, Gyeonggi Province, jointly titled with himself and three family members, for 430 million won.

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