Democratic Party Lawmakers and Families Real Estate Transactions Full Investigation... Anti-Corruption Commission Forms Investigation Team

Lee Geon-ri, Vice Chairman and Secretary General of the Anti-Corruption and Civil Rights Commission, briefing at the Government Seoul Office Building on the 1st. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] The Anti-Corruption and Civil Rights Commission (ACRC) will conduct a full-scale investigation into real estate transactions involving members of the National Assembly from the Democratic Party of Korea, their spouses, and direct lineal relatives.

On the morning of the 1st, the ACRC held an extraordinary plenary committee meeting and announced the formation of a special investigation team led by Lee Geon-ri, a former legal professional and the Vice Chairman and Secretary General in charge of anti-corruption. The investigation period will last 30 days starting from the 2nd and may be extended if necessary. Cases suspected of speculation will be referred to the government joint special investigation headquarters for prosecution, and the results will be announced after the investigation concludes.

Previously, on the 30th of last month, the ACRC received a request for a full-scale real estate investigation from the Democratic Party. The ACRC plans to investigate 174 Democratic Party members of the National Assembly, their spouses, and direct lineal relatives for any illegalities in real estate transactions.

The investigation areas include the 3rd New Town development zones targeted by the government joint investigation team, issues raised by media suspicions, and cases reported to the ACRC as public officials’ speculative activities. The ACRC will investigate transaction records within the seven-year statute of limitations as stipulated by the Anti-Corruption and Civil Rights Commission Act. The investigation will primarily be document-based, but on-site inspections will be conducted for cases suspected of speculation.

Following the method used by the government joint investigation team, consent forms for the collection and use of personal information will be obtained from the National Assembly members and their families. Real transaction details and ownership records will be cross-checked through the Real Estate Transaction Management System (Korea Real Estate Board) and the Land Information System (Ministry of Land, Infrastructure and Transport).

Lee Geon-ri, Vice Chairman and Secretary General of the ACRC, stated, "We will cooperate closely with the National Assembly and related real estate information agencies to ensure the full-scale investigation proceeds smoothly." He added, "Considering the high public interest in eradicating corruption in the public sector, we will approach this full-scale investigation of National Assembly members with fairness."

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