Special Investigation Unit Conducts Search and Seizure on Incumbent Lawmaker Over 'Speculation Allegations'... Former Happy City Chief Also Summoned for Investigation

SH Corporation and Yongin Cheoin-gu Office Undergo Successive Raids

National Police Agency Investigation Headquarters building. [Photo by National Police Agency]

[Asia Economy Reporter Lee Gwan-joo] The government joint special investigation headquarters (Special Investigation Headquarters, or SIH), which is investigating real estate speculation allegations, has been confirmed to have conducted a search and seizure related to speculation allegations involving a current member of the National Assembly. A former Administrator of the Administrative City Construction Agency (행복청장, Haengbokcheongjang), known as the highest-ranking former public official among those accused of speculation, is also being summoned for investigation.

A SIH official stated on the 23rd, "We executed a search warrant yesterday regarding speculation allegations involving a current member of the National Assembly," adding, "We cannot disclose detailed information such as the target and location of the search." Currently, five members of the National Assembly are under investigation for speculation allegations: Yang Hyang-ja and Seo Hyung-seok from the Democratic Party of Korea, Kang Ki-yoon and Lee Joo-hwan from the People Power Party, and independent Jeon Bong-min. Among them, one is reportedly the target of the search and seizure.

Additionally, the SIH summoned former Haengbokcheongjang A at around 10 a.m. today to the Serious Crime Investigation Division office of the National Police Agency’s National Investigation Headquarters in Hannam-dong, Yongsan-gu, Seoul, for questioning regarding speculation allegations. A is currently the highest-ranking (vice-ministerial level) former or current public official under investigation.

During A’s tenure as Haengbokcheongjang in late April 2017, he purchased two plots of land totaling 2,455㎡ in Nulwang-ri, Yeongi-myeon, Sejong City, under his wife’s name. The official land price at that time was 107,000 KRW per ㎡, which rose to 154,000 KRW per ㎡ three years later. Subsequently, after his retirement in late November 2017, he acquired 622㎡ of land and a lightweight steel structure on the site in Bongam-ri, Yeonseo-myeon, Sejong City. Controversy arose over speculation using insider information as the nearby Wachon and Budong-ri areas were scheduled to be designated as candidates for the Smart National Industrial Complex. The SIH conducted a search and seizure of Haengbokcheong and related offices on the 26th of last month, securing relevant materials and continuing witness investigations.

The police are accelerating their forced investigations related to speculation allegations. The Anti-Corruption and Public Crime Investigation Unit of the Seoul Metropolitan Police Agency began a search and seizure at three locations, including the headquarters and regional centers of the Seoul Housing and Communities Corporation (SH), at around 9:30 a.m. today. It is reported that the police received intelligence that three current SH employees leaked internal information to local real estate parties and profited in return. Meanwhile, the Yongin Eastern Police Station in Gyeonggi Province is conducting search and seizure operations at six locations, including the Cheoin-gu Office and Wonsam-myeon Office in Yongin City, related to public official speculation allegations.

Meanwhile, regarding the recent request by the People’s Solidarity for Participatory Democracy to the SIH to investigate 29 individuals related to speculation allegations, fact verification is expected to proceed. A SIH official said, "The relevant city and provincial police agencies will verify the details and then review whether to proceed with internal or external investigations."

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