Police Conduct Search and Seizure at Residence of District Council Member Amid 'Incheon Gyeyang New Town Speculation Allegations'

Incheon Metropolitan Police Agency is investigating whether there has been speculation in the areas of Incheon and Bucheon, Gyeonggi Province, designated for the 3rd New Town development. On the afternoon of the 11th, along a roadside in Dongyang-dong, Gyeyang-gu, Incheon, where the Gyeyang Technovalley, part of the 3rd New Town, is planned, a banner from the "Gyeyang New Town Compensation Opposition Countermeasure Committee" protesting against the new town project was displayed.
[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] The police have launched a forced investigation into real estate speculation allegations related to Incheon Gyeyang New Town and Bucheon Daejang District.

On the 26th, the Incheon Police Agency's Special Investigation Unit for Real Estate Speculation announced that 24 investigators executed search warrants at five locations, including the residence of suspect A and real estate agency offices.

Earlier, the special unit summoned and investigated Assemblyman A (62) of Gyeyang District Council as a suspect on the 23rd on charges of violating the Farmland Act and the Anti-Corruption Act.

Assemblyman A is accused of falsely proving farmland acquisition qualifications during the process of purchasing land in the area designated as Gyeyang New Town, a 3rd phase new town designated in December 2018, and the Bucheon Daejang District. He is also suspected of purchasing land before the designation of the 3rd phase new town.

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