47 Public Officials Caught for Real Estate Violations Including Illegal Subscription Over 3 Years

Park Wansu, member of the People Power Party.

[Asia Economy Reporter Lee Gwan-joo] It has been revealed that over 50 public officials were caught by the police in the past three years for real estate-related illegal activities such as fraudulent subscription and illegal resale.

According to data submitted by the National Police Agency's National Investigation Headquarters to Park Wan-soo, a member of the National Assembly's Public Administration and Security Committee from the People Power Party, from 2017 to 2019, a total of 10,867 suspects were caught violating real estate-related laws and referred to the prosecution with a recommendation for indictment, among whom 47 were public officials.

Among the 47 public officials, the most common charge was violation of the Housing Act, with 37 cases. Additionally, there were 6 cases of violation of the Act on Real Name Registration of Real Estate, 2 cases of violation of the Special Act on Public Housing, and 1 case each of violation of the Special Act on Real Estate Registration and the Act on Maintenance and Improvement of Urban and Residential Environment. These public officials were known to have committed illegal acts such as fraudulent subscription, trading of subscription savings accounts, illegal resale, and false residence registration.

Representative Park said, "Real estate-related crimes by some public officials undermine the trust in the entire public service and can cause great disappointment to the public," adding, "The government must have a firm resolve and take a strong stance against misconduct by public officials."

He continued, "The National Police Agency's National Investigation Headquarters must strictly handle real estate crimes by public officials and take the lead in restoring discipline within the public service."

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