Government to Announce Interim Investigation Results on 'LH Speculation' on the 2nd of Next Month

Joint Briefing by the Prosecutor's Office, Police Agency, National Tax Service, and Financial Services Commission

Prime Minister Kim Boo-kyum / Photo by Hyunmin Kim kimhyun81@

[Sejong=Asia Economy Reporter Son Seon-hee] The government will announce the interim results of its investigation and prosecution regarding allegations of land speculation by employees of the Korea Land and Housing Corporation (LH) on the 2nd.

According to the Office for Government Policy Coordination on the 31st, Prime Minister Kim Boo-kyum will hold a briefing to disclose the related results. Additionally, heads of relevant agencies participating in the government joint special investigation headquarters, including the Prosecutor's Office, National Police Agency, National Tax Service, and Financial Services Commission, will attend to provide detailed explanations.

The allegations of land speculation by LH employees abusing internal undisclosed information were first raised by civic groups in early March. As some speculation cases were confirmed to be true, it sparked public outrage.

This interim announcement of the investigation results comes three months after the allegations were raised. So far, investigations have been conducted on approximately 2,400 individuals, with 16 arrested and 283 referred to the prosecution. On the 21st, Prime Minister Kim emphasized, "We will accelerate investigations and inquiries so that the public can be assured that illegal speculation will definitely be punished," adding, "We all must take full responsibility until no suspicion remains, and I will also take responsibility."

In this regard, the government is expected to finalize and announce an LH reform plan soon based on the investigation results. The government has already signaled a 'dismantling-level' reform in response to this incident.

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