[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] A member of the Damyang County Council was arrested on suspicion of real estate speculation using information obtained through their position.

On the 22nd, according to the Jeonnam Provincial Police Agency, the police arrested Councilman A of Damyang County on charges of violating the Anti-Corruption Act.

Councilman A is suspected of acquiring land under a borrowed name in 2018 after obtaining advance information about the development plan for the Bochon district in Goseo-myeon, Damyang County, and also of leaking the development plan to real estate agents to have them purchase the land.

Previously, the Jeonnam Development Corporation conducted a feasibility study from May 2018 to October 2019.

A councilman’s wife purchased a 727㎡ plot of land within the Bochon district in October 2018 for 55 million won, under the names of their two children, by dividing the ownership of a 2,093㎡ farmland into shares among five people.

Jeonnam Province designated the Bochon-ri area as a restricted zone for development activities and land transactions from December 20, 2019, to December 2022, citing concerns over real estate speculation and indiscriminate development.

Councilman A is reported to have denied the speculation charges, stating that the area has had development pledges for over a decade.

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