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A joint government survey of 8,780 government officials caught in illegal land transactions in the third new city of real estate speculation in Korea, including public corporations nationwide.

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28 more public officials and public company employees of the 3rd New Town Land Transaction" were caught."

The results of the second round of the joint government investigation are announced.Adjacent housing transactions are 237 people.



An additional 28 public officials and public company employees who made land transactions in the third new city and its neighboring areas were caught.



Choi Chang-won, the first deputy chief of state affairs, announced the results of the second round of the joint government investigation at the Seoul Government Complex on Wednesday.





Choi Chang-won, the 1st Deputy Secretary of State, is announcing the results of the 2nd investigation into suspected speculation related to the 3rd new city at the Seoul Government Complex on the 19th.(Photo = Copyright (c) Yonhap News Agency, Unauthorized Reprint-Re-distribution prohibited)

Following the first survey of the Ministry of Land, Infrastructure and Transport and LH employees, the joint government investigated the land transaction status of all local government officials and local public corporations related to the third new city.



According to the investigation team, 8653 people who submitted their consent to provide personal information by the 16th of the 8,780 people surveyed were found to have made land transactions in the third new city district and adjacent and linked areas.



There were 23 local government officials and 5 local public company employees.



Choi said, "23 out of 28 people were suspected of speculation and decided to request an investigation, and the remaining five will be transferred to the government's joint special investigation headquarters for future investigation."



The 23 people who were asked to investigate were 10 from Gwangmyeong City, 4 from Ansan City, 3 from Siheung City, 1 from Hanam City, 2 from Bucheon Road Corporation, 1 from Gyeonggi Road Corporation, 1 from Gwacheon Road Corporation, and 1 from Ansan Road Corporation.



A total of 32 lots of land owned by them were found to be 11 lots, including 19 farmland, 2 forest fields, and other land and mixed land.



The investigation team explained that 18 out of a total of 32 parcels were traded within two years based on the public announcement date of the purchase, and there were some cases in which one person owned several lots or many purchased land through sharing.



In addition, in the second survey, 237 housing transactions were confirmed in existing urban areas adjacent to the third new city development zone in addition to land transactions.



Most of the housing transactions were found to be apartments and villas of employees of local governments and local public corporations adjacent to each district.



The investigation team said it will transfer the speculation to the special investigation headquarters as a reference for the investigation as detailed investigation is needed.



In addition, the investigation team will notify the special investigation headquarters of the list of 127 people who did not submit personal information among the subjects.



Choi Chang-won, the 1st Deputy Secretary of State, said, "We plan to thoroughly and extensively investigate the spouses, immediate existence, and descendants of local and local public employees who were not included in this survey."



He also stressed, "We will prepare measures to eradicate real estate speculation within this month so that such a situation will not recur."  



Contact Us: Joint Investigation Team 044-200-2743



[Source] South Korea Policy Briefing (www.Korea)kr)

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