Real Estate Speculation Allegations: Jeong Hyun-bok, Mayor of Gwangyang, Warrants Hearing Postponed

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] The pre-trial detention hearing for Jeong Hyun-bok, Mayor of Gwangyang, which was scheduled to be held today following the issuance of an arrest warrant on suspicion of real estate speculation, has been postponed.

According to the Anti-Corruption Economic Crime Investigation Unit 2 of the Jeonnam Police Agency on the 10th, the pre-trial detention hearing for Mayor Jeong, which was scheduled to be held at 11 a.m. at the Suncheon Branch of the Gwangju District Court, was postponed to the 12th after the defense attorney requested a delay from the court.

The police applied for an arrest warrant on charges of violating the Anti-Corruption Act, alleging that Mayor Jeong Hyun-bok used insider information to anticipate the construction of County Road No. 6 connecting Geumiri in Jinsang-myeon and Singuri in Jinwol-myeon, Gwangyang City, and purchased 1,084㎡ of land in August 2019 under the name of his wife, A.

Additionally, the police reportedly included abuse of authority in the warrant, citing that the two-lane road built on Mayor Jeong’s land in Hobuk Village, Chilseong-ri, Gwangyang-eup, was also a result of his abuse of power.

The police launched an investigation in March, conducting searches of Mayor Jeong’s residence and Gwangyang City Hall, and investigating over 30 public officials, carrying out a seven-month investigation.

Mayor Jeong, who was diagnosed with blood cancer, has been on medical leave since March, traveling between Seoul for treatment, and is reported to have denied most of the allegations.

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