Gwangju Land Lease Housing Victims Demand "Switch to Arrest Investigation of the Promotion Committee Chairman"

Members of the Sochon Line 1st Phase Regional Housing Cooperative in Gwangsan-gu, Gwangju, urged, "The chairman of the promotion committee, Mr. Lee, should be immediately arrested on fraud charges to realize legal justice."

All members of the Sochon Line 1st Phase Regional Housing Cooperative held a rally in front of the Gwangju Police Station on the 24th and issued a statement.

The members said, "We signed apartment sales contracts while saving the money we earned with great difficulty. We lived dreaming sweetly that we would soon move in."

However, they emphasized, "We, who have lived ordinary lives, never imagined we would become victims of fraudsters."

They explained, "Mr. Lee said that only 24% of the land purchase was completed and that the cost of materials had risen significantly, making it impossible to proceed with the current project, and eventually, the project was terminated."

They continued, "After the project was terminated, he promised to return the remaining 7.4 billion KRW and 16 land parcels (worth about 3 billion KRW) to the members by December 31 of last year, but he has been repeatedly missing the deadlines."

In this process, they lamented, "We were notified that there is about 30 million KRW entrusted to a trust company, not 7.4 billion KRW, and that 9 land parcels have all been sold off, with 7 remaining, but these are also under mortgage."

They stated, "This is a planned fraud, and the victims are united in urging the Gwangju Police Agency to thoroughly investigate the fraudsters and promptly arrest and investigate them."

Finally, they emphasized, "Although it is said that justice has disappeared in the Republic of Korea, we absolutely cannot tolerate such fraudsters openly acting as legitimate businessmen."

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