Special Investigation Unit Applies for Arrest Warrant for Former Happiness Cheong Director on Speculation Allegations

Highest-ranking among current and former public officials

Nam Gu-jun, Chief of the National Investigation Headquarters, National Police Agency. / Photo by Jin-hyeong Kang aymsdream@

[Asia Economy Reporter Lee Gwan-ju] The police have requested an arrest warrant for Mr. Lee, a former head of the Administrative City Construction Agency (ACCA), the highest-ranking former and current public official implicated in real estate speculation investigations.

The Government Joint Special Investigation Headquarters (Special Investigation Headquarters) announced on the 3rd that they have applied for an arrest warrant against Mr. Lee on charges of violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission (using official secrets for personal gain).

In late April 2017, during his tenure as ACCA head, Mr. Lee purchased two plots of land totaling 2,455㎡ in Nulwang-ri, Yeongi-myeon, Sejong City, under his wife's name. The official land price, which was 107,000 KRW per ㎡ in January 2017, rose to 154,000 KRW per ㎡ within three years.

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 candidate sites for the Smart National Industrial Complex.

The ACCA head is the highest position responsible for the construction of the Sejong New City and is equivalent to a vice-ministerial level. The Special Investigation Headquarters secured related materials by conducting searches and seizures at ACCA and summoned Mr. Lee twice for questioning. A Special Investigation Headquarters official stated, "We judged that it was a matter warranting an arrest warrant application," and added, "We understand that the prosecution is currently reviewing the records."

As the Special Investigation Headquarters marks two months since its launch, related investigations continue. Nam Gu-jun, head of the National Police Agency’s National Investigation Headquarters and leader of the Special Investigation Headquarters, emphasized, "Meaningful results have come out after two months of investigation," and added, "We will continue to conduct investigations with a sense of urgency going forward."

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