Police Conduct Search and Seizure at LH Jeonbuk Regional Headquarters and Two Other Sites over 'Speculation Allegations'

[Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-ju] The police investigating allegations of real estate speculation by employees of Korea Land and Housing Corporation (LH) have conducted another search and seizure at the LH Jeonbuk Regional Headquarters.

The Jeonbuk Provincial Police Agency's Special Investigation Unit for Real Estate Speculation Crimes announced on the morning of the 11th that they carried out search and seizure operations at three locations, including the LH Jeonbuk Headquarters and residences of employees.

This search and seizure is reported to be a separate case from the previously detained LH Jeonbuk Headquarters employee involved in the 'expedition speculation' allegations.

The police have detected circumstances where relatives of LH Jeonbuk Headquarters employees purchased land in districts being developed by LH. It is reported that they acquired real estate in areas such as Sambong District in Wanju, Jeonbuk, Hyochon District in Jeonju, and the new towns of Gwangmyeong and Siheung in Gyeonggi Province.

A police official stated, "Since the investigation is ongoing, it is difficult to disclose detailed information," and added, "We will analyze the secured materials and continue the investigation."

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