"Thorough Investigation Demanded for 18.8 Billion Won Gwangju Landlord Housing Fraud Case"

Sochon-dong Landlord Housing Association Members Hold Rally Urging Damage Countermeasures

A chairman of a land housing promotion committee in Gwangju is accused of embezzling 18.8 billion won in contributions, prompting calls for a thorough investigation.

On the 13th at 3 p.m., about 50 to 60 members of the Sochon Line 1st District Land Housing Promotion Committee in Gwangsan-gu, Gwangju, held a rally in front of the Gwangsan-gu Office in Gwangju Metropolitan City to demand measures for victims.

They alleged that the land housing promotion chairman, Mr. Lee, and the business agent, Mr. Lim, conspired to deceive members by falsely claiming that the land consent rate had reached 70-80%, recruited members, and then embezzled 18.8 billion won in contributions, urging investigative authorities to conduct a thorough investigation.

Members of the Sochon Line 1st Phase Regional Housing Promotion Committee in Gwangsan-gu, Gwangju held a rally at 3 p.m. on the 13th in front of the Gwangsan-gu Office in Gwangju Metropolitan City, urging measures to address the damage.
[Photo by Jin-Hyung Park]

They claimed, "Although it was revealed through account tracking that Mr. Lee and Mr. Lim embezzled public funds, they have shown no remorse and are shifting the responsibility onto the victims."

They also pointed out, "(Through a members' vote) it was decided to terminate the land housing project, and the promotion chairman promised to return the contributions by selling the remaining 7.4 billion won and 16 plots of land (worth 3 billion won) by the end of last year, but they have been delaying it indefinitely."

Furthermore, they lamented, "We signed apartment sales contracts with the modest dream of owning a home by saving money earned through hard work in our jobs and self-employment. We lived with the sweet dream that we would soon move in, but we never imagined becoming victims of fraud."

Addressing the investigative authorities, they demanded, "Those who mock the legal order of the Republic of Korea must be arrested to demonstrate the severity of the law and that justice is alive."

According to the members, there are about 580 victims, with the maximum damage per person reaching up to 90 million won.

Meanwhile, the Anti-Corruption and Economic Crime Investigation Unit of the Gwangju Police Agency is investigating Chairman Lee without detention on suspicion of fraud. After completing investigations of victims and witnesses, they plan to conduct a search and seizure to trace the flow of funds.

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