Geochang-gun Launches Comprehensive Investigation into Real Estate Speculation Allegations Targeting All Public Officials

Officials related to the project and public officials of grade 6 or higher, including spouses and direct lineal relatives
Investigation covers 7 self-implemented development projects and private investment project sites, up to 10 years ago

Geochang County Office building exterior view

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam Province, amid nationwide public outrage over allegations of land speculation by LH Corporation employees regarding the 3rd phase new town, will conduct a full-scale investigation into real estate speculation targeting all former public officials.

This full-scale investigation is being carried out in accordance with the "Recommendation for a Full Investigation into Real Estate Speculation Allegations by Public Officials in Gyeongsangnam-do" and the county's own plan. The purpose is to proactively resolve the nationwide spread of real estate speculation allegations by verifying whether public officials and their families used internal information related to development projects such as agricultural and industrial complexes to conduct real estate transactions.

The investigation targets development sites including seven projects independently carried out by the county, such as the elevator-specialized agricultural and industrial complex and the Geoyeolsanseong access road, as well as the Songjeong residential district development project promoted as a private investment project. The real estate transaction details will be reviewed from the present back to 10 years ago.

The investigation will be conducted until April 23 and will target all public officials. For officials at grade 6 or higher and those involved in the relevant projects, the scope will include spouses and direct lineal relatives. Consent forms for the use of personal information will be collected for the investigation.

The county has formed a special investigation team consisting of 10 members from 7 departments, led by the Planning and Budget Officer, and plans to secure consent forms for the use of personal information by April 2. Based on this, the full-scale investigation will begin on April 3.

Gu In-mo, the mayor of Geochang-gun, stated, "As public interest is high regarding the recent land speculation by LH Corporation employees, we will conduct a strict and thorough investigation to clearly uncover any minor suspicions." He added, "If any suspicious parts are found during the investigation, we will respond strongly by requesting investigations and filing complaints according to relevant regulations to establish a clean public official image."

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