Police Conduct First Summons Investigation of LH Employee Over '3rd New Town Speculation Allegations' (Comprehensive)

Analysis of Seized Materials from 'Sajangnim' and Employees in Gwangmyeong-Siheung Area
Multiple Summons Expected

[Asia Economy Reporter Lee Gwan-ju] The police investigating allegations of real estate speculation by employees of Korea Land and Housing Corporation (LH) have begun summoning key suspects for questioning. This comes two weeks after the LH speculation allegations first surfaced.

The Special Investigation Unit for Real Estate Speculation Crimes of the Gyeonggi Southern Provincial Police Agency summoned LH employee A for questioning around 10 a.m. on the 19th. It is reported that several LH employees, including A, were summoned on this day.

Upon arriving at the police station, A did not respond to reporters' questions about the circumstances of acquiring the land or whether he admitted to the charges, and entered the building with his head bowed.

A is known to be the LH employee who purchased the most land in the Gwangmyeong and Siheung 3rd New Town areas among those suspected of speculation. In particular, he was in charge of compensation work and was referred to as the so-called "boss" in the area. A is suspected of using internal information from 2017 until recently to purchase 10 plots in the area, spending between 6 to 7 billion KRW.

A police official said, "We are investigating LH employees who are subjects of the investigation," but added, "It is difficult to provide information about the individuals under investigation." The police are expected to focus on questioning LH employees about sharing internal information.

With the start of this summons investigation, the police's probe into the LH speculation allegations is expected to accelerate. On the 9th, the police conducted searches and seizures at LH headquarters, business divisions, and the homes of the employees involved. On the 17th, they also searched the Ministry of Land, Infrastructure and Transport and the Buk Siheung Nonghyup, which provided loans during the land purchase process by LH employees, securing related materials. Once the analysis of the seized items is complete, further summons investigations of the LH employees under suspicion are expected to follow.

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