Citizen Groups Also Accept Speculation Reports... Gyeongsilryeon and Others Open 'Real Estate Speculation Reporting Center'

On the 17th, officials from the Citizens' Coalition for Economic Justice and representatives of farmers' organizations held a press conference announcing the opening of the "Public Officials' Real Estate Speculation Reporting Center" at the Citizens' Coalition for Economic Justice in Jongno-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Song Seung-yoon] Civic groups and farmers' organizations have decided to operate a reporting center for public officials' real estate speculation.

The Citizens' Coalition for Economic Justice (CCEJ), the National Peasants' Federation, the National Federation of Organic Farmers, and the Korea Agricultural Managers Central Federation held a press conference on the 17th and announced, "We will operate a reporting center together with citizens to find and punish public officials' ruinous land and housing speculation."

The reporting center will begin operations from today and will accept reports anytime through the CCEJ website and email. Phone reports (02-766-5629) are also available on weekdays from 9 a.m. to 6 p.m. All public officials suspected of speculation, their relatives, and acquaintances related to them are the main targets for reporting.

Reporters should provide their name, contact information, along with the name, affiliation, position, speculation area and target, timing, and other specific circumstances and materials related to the public official being reported. The reporting center plans to investigate the reports, hold meetings with the operation committee, decide on referral or prosecution, and notify the reporter of the results. To protect the identity of reporters, only the reporters and the operation committee can access the report details.

These organizations also urged a complete revision of the Farmland Act, stating that formal and simplified farmland acquisition procedures are fueling farmland speculation. The proposed amendments include ▲strengthening regulations related to farmland acquisition ▲significantly reducing exceptions for non-farmers owning farmland ▲establishing national-level farmland preservation and utilization plans for food security and land conservation ▲principally banning farmland conversion unrelated to agricultural management and farmers, as well as regularly investigating farmland ownership and usage status and transparently disclosing it at all times by establishing a 'Farmland Integrated Information Management System' and setting up a 'Farmland Management Organization.'

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