Gwak Sang-do 'LH Speculation Allegation'... Ministry of Economy and Finance "No Individual with Same Name and Date of Birth" (Comprehensive)

"Ministry of Economy and Finance, Complete Block on Speculation Suspicions... Not a Single Identical Person"

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is entering the '6th Innovation Growth BIG3 Promotion Meeting' held at the Government Seoul Office in Jongno-gu, Seoul, on the morning of the 10th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Jang Sehee] Regarding the 'public official speculation allegations' raised by Kwon Sang-do, a member of the People Power Party, the Ministry of Economy and Finance's investigation confirmed that not a single employee purchased land in the Gwangmyeong-Siheung 3rd New Town district.

On the 28th, Kwon Sang-do held a press conference and announced the results of his own investigation, comparing the registry copies of 15,778 parcels in the Gwangmyeong-Siheung district with the list of 9,516 employees of the Korea Land and Housing Corporation (LH).

According to the findings, land transactions, which were at the level of 100 to 300 cases annually, increased starting in 2015: 494 cases in 2015, 440 in 2016, 677 in 2017, 706 in 2018, 524 in 2019, 899 in 2020, and 198 cases as of March 2021. Over six years from 2015 to 2020, an average of 623 transactions occurred annually, which is more than double the previous levels.

The number of individuals holding parcels in the area was 8,768 (excluding state and public enterprise ownership), and 3,962 people acquired new parcels after January 1, 2015. Among them, 1,066 people (26.9%) acquired two or more parcels, raising suspicions of real estate speculation. Notably, among the 3,962 new parcel acquirers since 2015, 705 had the same names as LH employees.

Among 1,208 Ministry of Economy and Finance employees, 236 had names matching landowners, and among new land acquirers after 2015, 174 names overlapped, leading to speculation of speculation.

In response, the Ministry of Economy and Finance stated, "After investigating the list provided by Representative Kwon's office, there was not a single employee whose name and date of birth matched."

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