Home » today » News » “At the time of LH President Byeon Chang-heum, employees were speculating 10 billion won in Gwangmyeong and Siheung.”

“At the time of LH President Byeon Chang-heum, employees were speculating 10 billion won in Gwangmyeong and Siheung.”

At a press conference held at the’Korea Land and Housing Corporation’s employees’ request for public interest audit for allegations of speculation in Gwangmyeong and Siheung new towns in Jongno-gu, Seoul on the morning of the 2nd. Holding it. yunhap news


Suspicion was raised that about 10 employees of the Korea Land and Housing Corporation (LH) had bought 7,000 pyeong of land before the selection of the 3rd new city in Gwangmyeong and Siheung. Attorneys’ Association for Participation Solidarity and Democratic Society (Minbyun) held a press conference at the Participation Solidarity in Jongno-gu, Seoul on the 2nd, and said, “We confirmed the situation in which several LH employees divided shares and purchased the land from the land ledger.” (New city development) It is highly likely that prior information was used.” They added, “This is the result of looking up some of the parcels in one day against the LH staff directory, and if you look at the whole thing, it is likely that more cases of land purchases by LH staff will increase,” they added. The timing of land purchases by LH employees disclosed by the Participating Solidarity mostly coincides (9 out of 10) when Minister of Land, Infrastructure and Transport Byun Chang-heum served as LH president from April 2019 to December last year.

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LH employees suspected of purchasing land in Gwangmyeong and Siheung new cities.  Graphic = Reporter Joongang Cha cha.junhong@joongang.co.kr

LH employees suspected of purchasing land in Gwangmyeong and Siheung new cities. Graphic = Reporter Joongang Cha [email protected]


The Gwangmyeong and Siheung areas were selected as the sixth third new city on the 24th of last month. It is expected that 70,000 households will be built in 12.71 million square meters (38.4 million pyeong) in the areas of Gwangmyeong-dong and Okgil-dong, Gwangmyeong-si and Guarim-dong, Siheung-si. The Participatory Solidarity and Minbyun conducted an investigation after receiving reports of allegations of speculation after designating a new city. As a result of their analysis, it was revealed that 14 LH employees and their spouses and families all bought 10 parcels of 23,028 m2 (about 7,000 pyeong) for about 10 billion won (99.45.12 million won) from April 2018 to June last year. .

Seong-min Seo, an attorney of the Minbyeon Civil Economic Commission, who participated in the analysis, said, “Employees of certain regional headquarters within LH are co-owners of a specific land.” I will.” The Participation Solidarity and Minbyun urged, “It is necessary to conduct a thorough investigation of not only the Gwangmyeong and Siheung areas, but also the entire 3rd new town.” In addition, the Ministry of Land, Infrastructure and Transport and LH requested public interest audits to the Board of Audit and Inspection. An official in the construction industry who requested anonymity said, “LH employees usually borrow the names of relatives or acquaintances to buy the land where they are expected to be developed, so we will be able to find out the actual situation only by conducting a full investigation, such as the financial transaction details of land buyers.”

At a press conference held on the morning of the 2nd at the'Korea Land and Housing Corporation's employees' public interest audit request for allegations of speculation in Gwangmyeong and Siheung new towns in Jongno-gu, Seoul' It is being released.  yunhap news

At a press conference held on the morning of the 2nd at the’Korea Land and Housing Corporation’s employees’ public interest audit request for allegations of speculation in Gwangmyeong and Siheung new towns in Jongno-gu, Seoul’ It is being released. yunhap news


The Participatory Solidarity and Minbyun argued that they systematically started speculation using prior information. Participating Solidarity said, “About 5.8 billion won of their land purchase funds are estimated to be loans to financial institutions.” .

In addition, because many of the employees suspected of speculation are compensation workers, they knew how to receive high compensation and used it. Participation Solidarity and Minbyun said, “If you look at the internal compensation regulations of LH, the shareholders with 1000㎡ meet the criteria for compensation for the land.” “There are circumstances in which it seems that you know and act on the reward method,” he explained.

Legal punishment is possible if speculation using prior information, as claimed by the Solidarity of Participation and Minbyun. Under the current Special Act on Public Housing, a person who uses information learned during work for other purposes, such as personal speculation, or provides or discloses information to others, is subject to imprisonment for not more than 5 years or a fine of not more than 50 million won. LH’s internal regulations also require internal disciplinary action when investing using information learned during work. The participatory solidarity side argued that “if all of the allegations are true, it is a violation of the obligation to prevent conflicts of interest under the Public Officials Ethics Act.” Regardless of the use of prior information, it is pointed out that it is inappropriate for LH compensation staff to conduct land transactions at the projected development site.

After the press conference, LH launched its own thorough investigation, and took personnel measures such as excluding all persons involved in this suspicion from their duties. An official from LH said, “If any illegal or unfair matter is found as a result of the investigation, we will take internal measures such as disciplinary action.” The Ministry of Land, Transport and Maritime Affairs also conducted a thorough investigation to determine how many LH employees bought the land for the Gwangmyeong and Siheung new towns and whether they were related to work.

Reporter Kim Won [email protected]

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