Daegum Expands 'Real Estate Speculation Task Force' to 641 Members

[Asia Economy Reporter Baek Kyunghwan] The prosecution has formed a 'Real Estate Speculation Crime Task Force' consisting of a total of 641 members.

On the 6th, the Supreme Prosecutors' Office announced that, in accordance with the 'Directive for a Full-Scale Response to Eradicate Real Estate Speculation,' it has expanded the 'Real Estate Speculation Crime Task Force' nationwide to include 47 chief prosecutors, 214 prosecutors, and 380 investigators, totaling 641 personnel.

Previously, on the 30th of last month, the Supreme Prosecutors' Office had announced plans to organize an investigative team of over 500 members across 43 prosecution offices nationwide to fully respond to suspicions of real estate speculation by employees of Korea Land and Housing Corporation (LH) and public officials.

In particular, crimes involving real estate speculation by public officials who use confidential information obtained through their duties or leak development information will be regarded as serious corruption crimes, with a policy to detain all suspects in principle. Furthermore, the highest legal penalties will be sought, and a strict no-tolerance policy will be maintained to ensure punishments commensurate with the crimes through active appeals against lenient sentencing.

Regarding private real estate speculation crimes such as planned real estate fraud, those who engage in commercial and repetitive speculation will be investigated under detention, and fines will be significantly increased as part of strict measures.

A comprehensive review of real estate speculation cases disposed of over the past five years has also been ordered. During this process, the Supreme Prosecutors' Office instructed prosecutors to directly reopen and investigate cases if there is a need to collect and analyze related crime intelligence and to conduct additional investigations or change dispositions.

The Supreme Prosecutors' Office explained, "We plan to concentrate all capabilities around the dedicated task force to eradicate real estate speculation."

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