Busan Police Launch Investigation into Allegations Related to Ilgwang New Town Land Sale... Violent Crime Investigation Unit Conducts Search of Busan Urban Corporation

Busan Metropolitan Police Agency.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Amid the widespread turmoil over real estate speculation allegations involving employees of Korea Land and Housing Corporation (LH), the Violent Crime Investigation Unit of the Busan Metropolitan Police Agency conducted a search and seizure at Busan Urban Corporation on the morning of the 15th in connection with the bidding for single-family residential land in Ilgwang New Town, Busan.

The Busan Metropolitan Police Agency announced that the Violent Crime Investigation Unit carried out the search and seizure at Busan Urban Corporation in Bujeon-dong, Busanjin-gu, Busan, from 9:30 a.m. for one hour.

The police are reportedly conducting the search and seizure of related documents from the Integrity Audit Office and others on suspicion of obstruction of bidding-related duties by a former Busan Urban Corporation employee. The police secured about one box of materials.

The Busan Metropolitan Police Agency stated that detailed information cannot be disclosed as the investigation is ongoing.

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