Gwangju District Office Official Arrested for Real Estate Speculation Using Insider Information
The Korean Confederation of Trade Unions held a press conference on the 12th in front of the Blue House Fountain in Jongno-gu, Seoul, announcing demands for real estate policies to dismantle the real estate speculation republic. On this day, the KCTU urged strengthening public ownership of land, converting 50% of all housing into public housing, prohibiting ownership of more than three houses per household, banning non-farmers from owning farmland, and introducing a real estate blind trust system. Photo by Moon Honam munonam@
View original image[Asia Economy Reporter Jeong Dong-hoon] A district office official in Gwangju City accused of real estate speculation has been arrested.
The Anti-Corruption and Economic Crime Investigation Unit of the Gwangju Police Agency announced on the 21st that former district office official Mr. A was arrested on the 20th on charges including violation of the Anti-Corruption and Public Interest Whistleblower Protection Act.
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Mr. A is accused of purchasing land worth approximately 1.35 billion won using insider information. The police also took seizure preservation measures to prevent the disposal of the land before a final judgment is made.
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