Gov't task force to summon LH officials over alleged land speculation

Seoul (South Korea), March 16: A government task force will soon summon officials of the state housing developer for questioning on allegations of land speculation, a task force official said Tuesday.
Twenty employees of Korea Land and Housing Corp. (LH) are currently under investigation for allegedly using insider information to purchase land mainly in Gwangmyeong and Siheung, Gyeonggi Province, before the area was designated as a major public housing development site last month.
"We are currently analyzing material that was sent to us for investigation as well as material that was seized," the official said in a phone interview with Yonhap News Agency, referring to the results of the government's preliminary probe and the police's raids on several sites, including the LH headquarters.
The interagency probe team is led by the police, with support from the prosecution, the National Tax Service and the Financial Services Commission.
"Once the analysis is complete, we plan to summon the LH employees," the official added.
The alleged land speculation by public sector employees has rocked the nation as it emerged at a time when public discontent over soaring home prices runs high.
President Moon Jae-in apologized Tuesday for troubling the nation over the case, which was first brought to light by two civic groups two weeks ago.
The scandal has set off a string of complaints about suspicious land deals involving public servants and politicians nationwide, leading regional police agencies to conduct their own investigations into the cases.
Two LH officials were found dead in apparent suicides last week amid the widening probe.
Source: Yonhap