Jeonbuk Province, 3 Officials Suspected of Violations Including Farmland Act Detected

Second Audit Results on Land Transactions by Public Officials and Families Announced... Suspicious Cases Data Provided to Police

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Jeonbuk Province announced on the 22nd that it has identified three suspects suspected of violating the Farmland Act and other laws after investigating whether public officials and their families, including employees of Jeonbuk Development Corporation, engaged in real estate speculation using undisclosed information.

Jeonbuk Province added that it will provide reference materials to the Jeonbuk Police Agency regarding the three suspects and 11 retirees who did not consent to the provision of personal information.

This second land transaction audit by Jeonbuk Province targeted a total of 88 development projects related to the province, focusing on whether real estate transactions were conducted using undisclosed internal information.

Jeonbuk Province compared 256,478 real estate transactions since 2014 within a 1 km radius from the boundary of the project sites, based on the administrative divisions of dong and ri, with 7,275 public officials and their families, then extracted 242 cases excluding residential apartments for implementation.

In particular, the extracted real estate transactions were investigated in writing for transaction details and their connection to development projects. Comprehensive analysis was conducted on acquisition reasons such as gifts or inheritance, distance from project sites, and comparison of project promotion and purchase timings, selecting 52 cases suspected of linkage between development projects and real estate transactions for detailed investigation.

As a result of the investigation, among the three suspects suspected of illegal activities, two did not manage agriculture after acquiring farmland, and the remaining one sold the land without managing it.

Jeonbuk Province emphasized that it will continue to establish and implement strong measures to prevent real estate speculation by public officials using undisclosed internal information.

Jeonju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr

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