Police Conduct Search and Seizure at Office of Hanam City Council Member Over Speculation Allegations (Update)
[Asia Economy Reporter Lee Gwan-joo] The police have launched a forced investigation into a member of the Hanam City Council who is suspected of speculating in the Gyosan New Town area of Hanam, Gyeonggi Province, under his mother's name.
The Special Investigation Unit for Real Estate Speculation Crimes of the Southern Gyeonggi Provincial Police Agency has been conducting a search and seizure of Councilor A's office and residence in Hanam since 10:15 a.m. on the 23rd.
Councilor A's mother purchased four plots of land totaling 3,509㎡ in Cheonhyeon-dong, Hanam, from April to October 2017. After the land was incorporated into Gyosan New Town, she received compensation and made a profit of about twice the amount.
The police reportedly initiated the search and seizure to investigate whether Councilor A was involved in any illegal activities during this process.
Earlier, Hanam City conducted an on-site investigation of four plots totaling 2,477㎡ in Cheonhyeon-dong registered under Councilor A's husband's name and confirmed illegal land use changes. The city reported the case to the police on suspicion of violating the Special Act on the Designation and Management of Development-Restricted Areas. The land in question is greenbelt forest land that has been reclaimed and is being used as farmland.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- Despite Warnings of "Do Not Enter, You May Not Make It Out Alive"... Foreign Tourist Stranded After Unauthorized Climb on Jeju Sanbangsan
- Signed Without Viewing for 1.6 Billion Won... Jamsil and Seongbuk Jeonse Prices Jump 200 Million Won in a Month [Real Estate AtoZ]
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
Following the emergence of the allegations, Councilor A resigned from his affiliated political party.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.