Swarm Bidding at Hoban Construction... Won Hee-ryong "Really Angry, Requesting Investigation into Illegality"

On the 16th, Won Hee-ryong, Minister of Land, Infrastructure and Transport, strongly criticized Hoban Construction, which is accused of receiving public land through "swarm bidding" and supporting second-generation companies, saying, "I am really angry."

[Image source=Yonhap News]

Minister Won posted on Facebook that "Hoban Construction won a large number of prime public land lots through swarm bidding and then transferred them to companies owned by his two sons, making them respectable company presidents."

Swarm bidding refers to the practice of using multiple disguised affiliated companies to increase the chances of winning bids for public land.

Minister Won stated, "The Fair Trade Commission imposed a fine of 60.8 billion won for this case that occurred between 2013 and 2015, but the companies operated by Hoban Construction's two sons earned more than 1.3 trillion won in sales profits alone," adding, "The Ministry of Land, Infrastructure and Transport will investigate whether the registration criteria were met during that period, and any further illegality will be revealed through police and prosecution investigations."

Minister Won said, "It is not over until it is over," and added, "We will fundamentally block the swarm bidding practices in the construction industry through institutional improvements." Earlier, the Ministry of Land, Infrastructure and Transport requested a police investigation into Hoban Construction's swarm bidding cases from 2019 to 2021.

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