4325 Individuals Under Investigation for Real Estate Speculation... 7 National Assembly Members Case Closed

[Asia Economy Reporter Lee Gwan-joo] The number of suspects under investigation for real estate speculation allegations triggered by the Korea Land and Housing Corporation (LH) in March this year has exceeded 4,300.

According to the Government Joint Special Investigation Headquarters (Special Investigation Headquarters, SIH) on the 23rd, as of the 20th of this month, there are 966 cases and 4,325 people under investigation within the SIH. Among them, 1,727 were judged to have charges and were referred to the prosecution, while 561 were closed without prosecution. The SIH also took pre-indictment seizure and confiscation preservation measures worth approximately 80.8 billion KRW in 59 cases to recover criminal proceeds.

By status, the suspects include 120 high-ranking public officials, 342 civil servants, and 137 public institution employees. Among the high-ranking public officials, there are 23 members of the National Assembly, 68 local council members, 15 heads of local governments, 12 senior officials of grade 3 or higher, and 2 LH executives.

Among the members of the National Assembly, 7 were closed without indictment or prosecution. Regarding criticism that the investigation of National Assembly members is sluggish, Nam Gu-jun, head of the National Police Agency’s National Investigation Headquarters, said, "Due to the National Assembly schedule, we have no choice but to coordinate the schedule," adding, "Since the investigation of the National Assembly members themselves is conducted after the completion of investigations of witnesses and others prior to their questioning, it is taking a little time."

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