Police Conduct Search and Seizure at 6 Locations Including Ministry of Land, Infrastructure and Transport Over 'LH Employee Speculation Allegations' (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-ju] The police investigating allegations of speculative investment by employees of Korea Land and Housing Corporation (LH) in new town areas conducted a sudden raid on the Ministry of Land, Infrastructure and Transport on the 17th.

The Special Investigation Unit for Real Estate Speculation Crimes of the Gyeonggi Southern Provincial Police Agency dispatched investigators to the Ministry of Land, Infrastructure and Transport at the Government Sejong Complex from 10 a.m. that day to carry out the search and seizure.

On this day, the search and seizure were conducted not only at the Ministry of Land, Infrastructure and Transport but also at a total of six locations, including the LH headquarters located in Jinju, Gyeongnam, and Buksiheung Nonghyup.

This is the second search and seizure at the LH headquarters. Buksiheung Nonghyup is the place where LH employees suspected of speculation have concentrated their loans.

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