Former Ulsan Deputy Mayor Song Byeong-gi, Accused of Real Estate Speculation, Sentenced to 2 Years in Prison in First Trial, 'Detained in Court'

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] Song Byeong-gi, former Deputy Mayor for Economic Affairs of Ulsan City, who was indicted on charges of real estate speculation, was sentenced to prison in the first trial and taken into custody in court.

On the 10th, Han Yoon-ok, presiding judge of Criminal Division 5 at Ulsan District Court, sentenced former Deputy Mayor Song to 2 years in prison for violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission. The court also ordered Song to pay a fine of 790 million KRW. A, an acquaintance of former Deputy Mayor Song who was indicted together, was sentenced to 1 year in prison with a 2-year probation and fined approximately 37 million KRW on the same day.

Former Deputy Mayor Song is accused of using information he learned while working as the Director of the Ulsan City Transportation and Construction Bureau in December 2014 to buy land (1,215㎡) near a planned apartment housing construction site. He allegedly passed this information to A, who was then an acquaintance and real estate agent, enabling A to purchase and resell the land, earning a market price difference of 340 million KRW.

The court pointed out, "The apartment development information that the defendant learned by attending the Ulsan City Urban Planning Committee in November 2014 constitutes official secrets, yet he has shown no signs of remorse during the trial process." However, the court added, "It appears that the actual cash profit received was not significant."

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