Police Conduct Search and Seizure at LH Headquarters Over 'Seongnam Geumto District Speculation Allegations'

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] On the 9th, the police investigating real estate corruption allegations conducted a search and seizure at the LH headquarters and the Gyeonggi regional office in connection with suspicions of real estate speculation in the Geumto District area of Seongnam.

The Special Investigation Unit for Real Estate Speculation Crimes of the Southern Gyeonggi Provincial Police Agency dispatched 24 investigators to five locations starting around 10 a.m. that day, including the LH Gyeonggi Regional Office, Jinju LH headquarters, the Ministry of Land, Infrastructure and Transport, LH Seongnam Pangyo Project Headquarters, and the residence of the relevant employee, to carry out the search and seizure.

This search and seizure aims to secure evidence related to speculation charges against a current LH employee, Mr. A. It is known that Mr. A purchased land within the site using development project information related to the Geumto District area in Seongnam.

Several development plans related to LH are underway in the Geumto District, including the Pangyo 2nd Technovalley project initiated in 2015 and the Geumto Public Housing District project ongoing since 2018.

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