3,565 Real Estate Speculators Busted in One Year as South Korea Vows Third Crackdown
Thousands Caught in Housing Sweep
President Lee Jae-myung announced a third round of special crackdowns targeting real estate crimes, as the National Office of Investigation reported 3,565 individuals caught and 2,151 referred to prosecutors over the year ending October 31, 2026. Asia Economy reported the figures, which stem from government initiatives following the October 15 housing market stabilization measures.
Agricultural Speculation Drives the Numbers
The latest enforcement data shows that agricultural land speculation accounted for the largest share of offenses at 898 individuals, or 25.2 percent of the total. Supply order disturbances, including illegal subscription practices, followed closely with 795 suspects, while illegal brokerage activities such as artificial price inflation accounted for 726 individuals. Additional infractions included name-trust violations and unregistered pre-sales involving 616 people, reconstruction corruption with 353 suspects, speculative real estate marketing schemes involving 169 individuals, and internal information misuse totaling 8 suspects.
Indictments and Detentions Mount Across Two Phases
Out of the 3,565 total suspects caught across two distinct special enforcement phases, 2,151 people were referred to prosecutors and 16 were detained. Authorities issued non-referral decisions for 714 individuals, while investigations continue for another 700 suspects. The initial crackdown, launched after the autumn 2025 housing stabilization directives, snared 1,493 individuals with 640 subsequently referred to prosecutors. A secondary enforcement wave ran from March 16 through the end of October 2026.
President Lee Warns Speculators Ahead of Third Sweep
President Lee shared the National Office of Investigation findings on his X account, emphasizing that the era of generating wealth through unlawful real estate speculation must end. He urged anyone currently engaging in illicit property practices to correct their actions immediately ahead of the upcoming third enforcement sweep. Back in March, during the release of the first enforcement metrics, President Lee called rampant real estate crime a destructive force undermining the national economy and stated that normalizing the housing market remains essential for the country’s future.