Police Refer One More Lawmaker to Prosecution Over Real Estate Speculation Allegations

[Asia Economy Reporter Lee Gwan-joo] It has been confirmed that the police investigating real estate speculation allegations triggered by the Korea Land and Housing Corporation (LH) have sent an additional member of the National Assembly for prosecution.

A senior official from the National Police Agency's National Investigation Headquarters stated on the 1st, "So far, cases involving a total of 33 current and former members of the National Assembly have been received, and 3 have been sent for prosecution." This adds one more to the previously known two members sent for prosecution, including Kim Kyung-hyup of the Democratic Party and Jeong Chan-min of the People Power Party.

The police have closed the cases without prosecution or indictment for 18 individuals, and are conducting pre-indictment investigations and inquiries for the remaining 13.

The digital forensic work on the mobile phone of Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation and a key figure in the 'Daejang-dong preferential treatment allegations,' is also ongoing. A police official explained, "It is not 100% complete and is still in progress."

The police are focusing their investigative efforts on clarifying the suspicious flow of funds related to Hwacheon Daeyu Asset Management (Hwacheon Daeyu). On the 29th of last month, they conducted a search and seizure of a townhouse in West Pangyo owned by Cheonhwa Dongin No. 1, a subsidiary of Hwacheon Daeyu. A police official said, "We are continuously verifying accounts by executing warrants," adding, "The search and seizure of the townhouse was to identify the actual owner and user."

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