The Police's Sharp Focus on 'Real Estate Speculation Investigations' Targeting Lawmakers and High-Ranking Officials

3 National Assembly Members, 19 Local Councilors, etc.
Possibility of Direct Investigation by National Police Agency
Arrest Warrant Requested for Pocheon Public Official
"There Is a Likelihood of 'Using Internal Information'"

National Police Agency Criminal Investigation Headquarters building./Photo by National Police Agency

[Asia Economy Reporter Lee Gwan-ju] The police investigation into real estate speculation allegations triggered by employees of the Korea Land and Housing Corporation (LH) is now targeting high-ranking officials. Members of the National Assembly, local council members, and former and current high-ranking public officials have been included in the police investigation.

The National Police Agency’s National Investigation Headquarters (NIH) announced on the 24th that they are currently conducting internal and external investigations into 89 cases involving 398 individuals related to real estate speculation allegations. In particular, it is known that they are examining speculation allegations involving 3 members of the National Assembly, 19 city council members, and 2 former and current high-ranking public officials. Choi Seung-ryeol, head of the NIH Investigation Bureau, explained, "Some cases of complaints and accusations against National Assembly members that were submitted to the prosecution are also being returned to the police, so the subjects of internal and external investigations are expected to continue changing."

The police are not ruling out deploying the Major Crimes Investigation Division, a direct investigation unit within the NIH, for investigations involving high-ranking public officials. Director Choi emphasized, "Because there may be many public suspicions, we will meticulously handle and carefully scrutinize each case involving National Assembly members, city and provincial council members, and former and current high-ranking public officials."

Regarding Mr. A, a Pocheon City official for whom an arrest warrant was requested for the first time since the LH scandal broke out, the police reportedly applied for the warrant believing there is a high likelihood of internal information misuse. This means that he was in a position to sufficiently acquire internal information, and the decision to apply for the warrant was made after considering the timing of the purchase and other factors. Mr. A purchased approximately 2,600 square meters of land near the planned station site on the extended urban railway line in joint ownership with his wife in September last year, and it became controversial as he was known to have worked in the relevant department in 2019.

However, regarding the speculation allegations involving 15 former and current LH employees in the Gwangmyeong-Siheung new town area, which are being investigated by the Gyeonggi Southern Provincial Police Agency, it is expected that no arrest warrants will be requested within this week. This is because suspect summons, data analysis, and statement verification must be conducted, and additional summonses may also take place. Director Choi stated, "We will make it a principle to conduct arrest investigations regardless of scale for public officials’ speculation acts using internal information," and added, "The NIH will collect and review the details and ensure that the same standards are applied uniformly across all 18 city and provincial police agencies nationwide regarding the handling of suspects."

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