There Are Also 'Speculation Suspicion Cases' in Busan Gangseo Research and Development Special Zone... Busan City Requests Investigation for 1 Case, Reviewing Another

Busan City Completes First Investigation into Public Officials' Real Estate Speculation Allegations

Location of the Research and Development Special Zone in Gangseo-gu, Busan. [Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] One suspected case of real estate speculation was detected in the Busan Research and Development Special Zone, prompting the Busan city government to decide to request an investigation.

On the 4th, Busan city announced that it had completed a special investigation into real estate transactions in the Daejeo-dong Research and Development Special Zone in Gangseo-gu.

The investigation targeted 14,514 land parcels in the public land and surrounding areas of the Research and Development Special Zone. Land transaction records from 2016 to February 2021, covering five years prior to the public housing district resident announcement, were reviewed.

According to Busan city, acquisition tax payment data of 6,839 employees and their families from related departments were checked, confirming transaction details for 10 people involving 11 cases: 4 cases of employees and 7 cases of employees' families.

The types of transactions included 3 inheritances, 6 gifts, and 2 sales. Among these, the two land sales were closely investigated, and one transaction involving an employee's family is suspected of possibly using internal information from the urban development-related department, making it subject to investigation request.

Busan city explained that no suspicious signs of speculation were found in the other case regarding the circumstances of land acquisition and funding methods.

Busan city is also considering requesting an investigation for one city employee who did not submit a consent form.

Regarding the use of personal information for the Research and Development Special Zone investigation, 1,466 employees of Busan city, Gangseo-gu, and Busan Urban Corporation, 4,270 family members of Busan city and Gangseo-gu employees (100%), and 761 family members of Busan Urban Corporation employees (95.7%) consented. Among retirees including themselves and their families, 342 (59.1%) from Busan city and Gangseo-gu consented, while none from Busan Urban Corporation did.

In March, Busan city formed an internal investigation team to examine land ownership and transactions of employees in departments related to the Research and Development Special Zone development, employees of Busan Urban Corporation, and their families (spouses and direct relatives).

By the end of this month, Busan city will conduct a second investigation on six sites including the Eco Delta City waterfront area, Ori General Industrial Complex development project, Ilgwang district urban development project, International Industrial Logistics Complex, Western Busan complex distribution complex, and Centum 2 district advanced industrial complex development.

The investigation targets approximately 16,000 people, including all employees of Busan city, Haeundae-gu, Gangseo-gu, Gijang-gun, Busan Urban Corporation, and their direct relatives.

Busan city plans to request investigations for employees suspected of illegal speculation based on the second investigation results, and if illegal acts are confirmed, disciplinary actions will be taken.

Ryu Je-sung, head of Busan city's internal investigation team, said, “The second investigation is progressing swiftly,” and added, “We plan to intensify the investigation into real estate speculation allegations to resolve public distrust in the public service community.”

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