First Arrest Warrant Issued for LH Jeonbuk Headquarters Employee Over 'Real Estate Speculation Allegations'

On the 10th, a public official in Gwangmyeong-si, Gyeonggi Province, erected a cadastral boundary marker on the land purchased in Noonsadong. This is the place where the official acquired 1,322㎡ of farmland last year.
[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] The police, who are investigating allegations of real estate speculation triggered by the Korea Land and Housing Corporation (LH), have applied for an arrest warrant for an LH employee for the first time since the investigation began.

On the 5th, the Special Investigation Unit for Real Estate Speculation Crimes of the Jeonbuk Provincial Police Agency announced that they applied for an arrest warrant for an LH Jeonbuk Headquarters employee on charges of illegally using insider information to purchase real estate, and also applied for pre-indictment seizure preservation on the relevant land.

At a briefing held at the National Police Agency headquarters on the same day, Choi Seung-ryeol, Director of the Investigation Bureau of the National Police Agency, also stated, "On the 2nd, we applied for arrest warrants for two LH employees in relation to the 3rd New Town project," adding, "We are currently conducting supplementary investigations requested by the prosecution. This is related to the Gwangmyeong Noonsadong area."

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