Arrest of Agricultural Corporation CEO for Illegal Acquisition and Profit from Subdivided Sale of Farmland
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2018040510214637005_1522891309.jpeg)
[Asia Economy Reporter Kim Hyung-min] The CEO of an agricultural corporation who made a huge profit by buying farmland with false agricultural management plans and then subdividing and selling it has been arrested.
On the 24th, Jeong Hyun-seok, the chief judge in charge of warrants at the Pyeongtaek Branch of Suwon District Court, conducted a pre-arrest interrogation (warrant substantive examination) of CEO A of an agricultural corporation in the Gyeonggi area, who is accused of violating the Farmland Act, and issued an arrest warrant citing "risk of flight."
Hot Picks Today
Dramatic Agreement Reached on Eve of Samsung Electronics General Strike... Minister Kim Young-hoon: "Showcased Korea's Strength in Dialogue" (Update)
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
CEO A is suspected of illegally purchasing about 30,000㎡ of farmland in the Pyeongtaek area twenty-three times from December 2018 to September last year. It was investigated that contrary to the agricultural management plans submitted when acquiring the farmland, he subdivided the acquired land and sold it to about 170 people within one year, earning over 15 billion won in profits.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
