Gwangju City Announces Second Investigation Results on Sanjeong District Speculation Allegations... No Land Transactions Found

A Total of 4,071 Real Estate Transactions and 9,956 People Surveyed in Sanjeong and Jangsu-dong Areas

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] The Gwangju Metropolitan City Audit Committee announced the results of the investigation into allegations of public officials' speculation in the Sanjeong District and its surrounding areas on the 29th.

According to the city, there were a total of 4,071 real estate transactions (402 in Sanjeong District, 3,669 in the surrounding areas) in Sanjeong and Jangsu-dong from 2016 to early March 2021.

The first investigation targeted 4,696 public officials from the city and Gwangsan-gu directly related to Sanjeong District affairs, along with 71 family members related to their work, totaling 4,767 people. The scope covered 402 transactions in Sanjeong District, resulting in 4 land transactions involving 2 public officials.

The second investigation expanded the target to 9,885 public officials from the city and five districts including Dong-gu, plus 71 family members related to their work, totaling 9,956 people. The scope was a full survey of 4,071 transactions in Sanjeong and Jangsu-dong, including Sanjeong District.

As a result, there were no land transactions, but 48 people conducted 64 building transactions (38 purchases, 26 sales), consisting of 59 apartments and 5 single-family houses.

Lee Gap-jae, chairman of the city audit committee, said, “We plan to continuously monitor the speculation allegations while observing the progress of the investigation.”

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