Busan Real Estate Speculation Investigation, Only 3 Locations? "Are You Kidding, Investigate Worldwide"

Angry Oh Gyuseok, Gijang County Governor, "Stop Ignoring and Pretending, Thorough Investigation of All Real Estate Is Necessary"

Oh Gyuseok, Mayor of Gijang County. (Photo by Gijang County)

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] “Investigations into real estate speculation by public officials should be conducted not only domestically but also in all regions worldwide!”

On the 19th, Oh Gyu-seok, the mayor of Busan’s Gijang County, criticized the decision to limit the investigation areas related to real estate speculation corruption by public officials in Busan to only three locations.

The special investigative body on public officials’ real estate corruption, formed by Busan’s ruling and opposition parties and government, is currently investigating speculation suspicions in areas such as Gadeokdo and Daejeo-dong in Gangseo-gu, Ilgwang New Town in Gijang County, and LCT in Haeundae-gu, targeting current and former elected public officials, high-ranking government officials, and their immediate families within the last 10 years. Mayor Oh expressed opposition to this limited scope.

Mayor Oh of Gijang County stated, “I fully welcome the special investigative body agreed upon by Busan’s ruling and opposition parties and government taking action. However, limiting the investigation areas is like ‘covering one’s eyes and pretending not to see,’ a typical show investigation.”

“As the saying goes, ‘Taesan myeongdong seo ilpil (泰山鳴動 鼠一匹)’ ? a great commotion but only a single mouse appears. The public’s anger is sky-high over real estate speculation suspicions involving public officials and politicians, and such a superficial investigation is absolutely unacceptable,” he said.

Mayor Oh strongly insisted, “Not only domestic real estate speculation but also overseas real estate must have their sources of funds revealed and be severely punished.”

He emphasized that real estate speculation, where power, money, and information are shamelessly used to increase wealth, is the “worst of bad habits” and must be eradicated completely, not just cut at the root but uprooted entirely.

He also strongly criticized, “Those individuals must be permanently expelled so they can never set foot in public office again.”

Real estate speculation by public officials is a violence that tramples on everyone’s dreams and hopes, and eradicating it should be a task of the times that both ruling and opposition parties must participate in, he added.

Mayor Oh said, “I and my family will take the lead and undergo all investigations. Temporary show investigations will never be tolerated,” and appealed earnestly, “I desperately urge all current and former elected public officials, appointed high-ranking government officials, and their families to participate so that thorough investigations can be conducted on all domestic and overseas real estate.”

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