LH Jeonbuk Headquarters Employee Arrested for Land Speculation... First Case of LH Employee Arrest

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] A staff member A of the Korea Land and Housing Corporation (LH) Jeonbuk Regional Headquarters, accused of real estate speculation, has been arrested. This is the first case of a current LH employee being detained.

According to the legal community on the 9th, Jeonju District Court Judge Jeong Woo-seok, in charge of warrants, issued an arrest warrant for A on the 8th on charges of violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission. The court stated the reason for issuing the warrant, saying, "The criminal charges have been substantiated, and there is a concern of evidence tampering."

A is suspected of using internal information to speculate in real estate under his wife's name in a development area in Wanju in 2015. He was reportedly in charge of 'Wanju Sambong Public Housing Project permits and design work' at the LH Jeonbuk Regional Headquarters until recently. The police summoned A on the 1st and questioned him intensively for about four hours regarding the acquisition process of the real estate and whether there was any illicit gain. He is said to have denied the related charges.

The police applied for an arrest warrant for A and also requested pre-indictment seizure of the land in question. The pre-indictment seizure order prevents the suspect from arbitrarily selling the illegally obtained property subject to confiscation before a final court ruling is made.

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