Special Investigation Unit Begins Internal Probe into Kim Ki-pyo, Anti-Corruption Secretary, over 'Speculation Allegations'... Additional Speculation Suspicion Involving 'LH Employee' Detected

765 Speculation Cases and 3,356 Individuals Investigated
113 High-Ranking Officials Including Members of the National Assembly

[Asia Economy Reporter Lee Gwan-ju] The police are set to begin a full-scale fact-checking investigation into former Blue House Anti-Corruption Secretary Kim Ki-pyo, who has been embroiled in real estate speculation allegations.

On the 28th, Nam Gu-jun, head of the National Police Agency's National Investigation Headquarters, stated at a press briefing, "A complaint has been received, and we plan to initiate a preliminary investigation." The case involving former Secretary Kim is expected to be assigned to the Gyeonggi Southern Provincial Police Agency.

The Judicial Examination Preparation Group recently filed a complaint with the National Investigation Headquarters against former Secretary Kim and his spouse for violating the Real Estate Real Name Act. In the complaint, the group requested an investigation into whether former Secretary Kim conspired with acquaintances who are relatives to transfer ownership of land in Songjeong-dong, Gwangju-si, Gyeonggi Province, through a method of name trust.

The controversy surrounding former Secretary Kim was triggered by the public disclosure of public officials' assets. He declared total assets worth 3.92 billion KRW, while his real estate assets amounted to 9.12 billion KRW, and his financial liabilities reached 5.62 billion KRW.

In particular, the 49 million KRW worth of forest land in Songjeong-dong is a 'landlocked' plot without road access, but speculation arose due to its proximity to newly constructed apartment and villa complexes in the Songjeong district development. Allegations of 'all-in debt investment' were also raised. Former Secretary Kim reported loans totaling 5.46 billion KRW from three financial institutions, which is speculated to have been used to purchase two commercial buildings in Magok-dong, Gangseo-gu, Seoul, valued at approximately 6.55 billion KRW.

Regarding this, former Secretary Kim explained, "The land in question is in an area where development activities are prohibited even if roads are constructed due to Gwangju-si's urban planning ordinances, and I acquired it reluctantly at the request of an acquaintance who was in financial difficulty," while also expressing his intention to resign.

The government joint special investigation headquarters (Special Investigation Headquarters) continues its probe into real estate speculation allegations. As of this date, the Special Investigation Headquarters is conducting investigations on a total of 765 cases involving 3,356 individuals. Among them, 1,044 have been referred to the prosecution, and 383 cases have been closed, including non-prosecution.

Among these, 113 are high-ranking public officials, including 23 members of the National Assembly, 63 local council members, 15 heads of local governments, 10 senior officials of grade 3 or higher, and 2 executives of the Korea Land and Housing Corporation (LH). Of these, 17 have been transferred (4 detained). Pre-indictment seizure and confiscation measures to recover criminal proceeds have been approved by the court in 28 cases, amounting to approximately 69.41 billion KRW.

Additionally, the Special Investigation Headquarters has obtained further intelligence related to speculation allegations involving current and former LH employees and has begun investigations. Evidence has been confirmed of collusion between current and former LH employees and licensed real estate agents in redevelopment projects in Seongnam-si, Gyeonggi Province, as well as organized speculation by dozens of current and former LH employees, relatives, and acquaintances who established separate real estate development companies in other regions. A Special Investigation Headquarters official stated, "Based on the circumstances confirmed during ongoing investigations, summonses, interrogations, and searches are currently being conducted."

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