Police Request Arrest Warrants for Two LH Employees and Former Aide to Jeon Hae-cheol on Speculation Allegations

by Lee Gwanju

Published 17 May.2021 11:35(KST)

The Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Southern Provincial Police Agency conducted a search and seizure on the 9th at the LH headquarters in Jinju, Gyeongnam, the LH Gwacheon-Uiwang Project Headquarters, and the LH Gwangmyeong-Siheung Project Headquarters in connection with the investigation into allegations of land speculation by employees of Korea Land and Housing Corporation (LH) in new towns. The photo shows the LH Gwacheon-Uiwang Project Headquarters on that day. Photo by Moon Honam munonam@

[Asia Economy Reporter Lee Gwan-ju] The police investigating real estate speculation allegations triggered by the Korea Land and Housing Corporation (LH) have applied for arrest warrants for an LH employee nicknamed "Gang Sajang" and a former aide to Jeon Hae-cheol, Minister of the Ministry of the Interior and Safety.

The Special Investigation Unit for Real Estate Speculation Crimes of the Gyeonggi Southern Provincial Police Agency applied on the 17th for arrest warrants against two LH employees, including Kang, and Han, a former aide to the ex-minister, on charges of violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission (Anti-Corruption Act) and the Farmland Act.

Kang, an executive in charge of land compensation work at LH, is accused of purchasing four plots of land, including 526㎡ of rice paddies in Okgil-dong, Gwangmyeong-si, Gyeonggi, and 5,905㎡ of fields in Mujinae-dong, Siheung-si, from 2017 to last year using internal information, for about 2.25 billion KRW. These lands were incorporated into the Gwangmyeong-Siheung new town, causing their value to soar to 3.8 billion KRW.

Han, a former aide to the ex-minister, is accused of purchasing 1,500㎡ of land in Jangsang-dong, Ansan-si, Gyeonggi, in April 2019 for about 300 million KRW. This farmland, incorporated into the 3rd new town, has now surged in value to 1.2 billion KRW.