Police Conduct Search and Seizure at Ministry of Land, Infrastructure and Transport and LH Regarding Allegations of Speculation Involving Former Aide to Jeon Hae-cheol (Update)

Minister Jeon Hae-cheol of the Ministry of the Interior and Safety is attending a meeting related to the investigation cooperation on new town speculation held at the Government Seoul Office in Jongno-gu, Seoul, on the morning of the 10th. Photo by Kang Jin-hyeong aymsdream@

[Asia Economy Reporter Lee Gwan-joo] The police have launched a forced investigation into the wife of the former aide to Jeon Hae-cheol, Minister of the Ministry of the Interior and Safety, who has been suspected of speculation after purchasing farmland in the 3rd new town area.

The Special Investigation Unit for Real Estate Speculation Crimes of the Gyeonggi Southern Provincial Police Agency has dispatched 38 investigators since 10 a.m. on the 29th to conduct raids at the headquarters of Korea Land and Housing Corporation (LH), the Ministry of Land, Infrastructure and Transport, Ansan City Hall, and Gyeonggi Provincial Government.

A police official explained, "This is the execution of a search warrant related to the accusation case against Ms. A, the wife of the former aide to Minister Jeon."

The Judicial Examination Preparation Group (Sajunmo) filed a complaint with the police on the 18th against Ms. A for violating the Farmland Act. It was alleged that Ms. A purchased land in Jangsang-dong, Ansan-si, Gyeonggi Province, by taking out a loan of more than 200 million won one month before the land was designated as part of the 3rd new town.

Hwang Bo-seung-hee, a member of the People Power Party who first raised the suspicion, claimed, "The land in question is a development-restricted area and even has a transmission tower nearby, making it difficult to trade. Purchasing such land with 70% of the purchase price financed by a loan is a typical case of land speculation using new town development information."

In response, Minister Jeon's side stated, "On March 9, the local aide expressed a desire to take a break due to health reasons and was dismissed. After that, since there was information that the party was conducting a full investigation of its aides, we checked whether there was any real estate ownership and informed the party of the related facts during the process." They added, "It cannot be concluded that the real estate purchase was for speculation using development information, and since the party has already been fully informed of the related facts, we intend to comply with the party's disposition."

The police said, "We conducted a search of Ms. A's residence first on the 27th. After analyzing the secured materials, we plan to decide the future direction of the investigation."

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