Police Conduct Search and Seizure at LH Jeonbuk Headquarters Over 'Overseas Speculation Allegations' (Update)
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[Asia Economy Reporter Lee Gwan-ju] Regarding the allegations of 'overseas speculation' involving employees of the Korea Land and Housing Corporation (LH) in the Jeonbuk region, the police launched a forced investigation by conducting a search and seizure on the 22nd.
The Jeonbuk Provincial Police Agency's Real Estate Speculation Crime Task Force dispatched investigators to three locations, including the LH Jeonbuk Regional Headquarters, from around 8 a.m. to execute search and seizure warrants.
The police reportedly initiated the investigation after detecting circumstances where LH Jeonbuk Headquarters employees and their relatives purchased land in the planned area of the 3rd New Town in Gwangmyeong-Siheung in 2018.
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On the 12th, Mr. A, who served as the head of the LH Jeonbuk Regional Headquarters in Seongnam, Gyeonggi Province, took his own life. It is reported that Mr. A left a note stating, "I deeply feel responsible as the regional head."
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