'LH Speculation' raided by the Ministry of Land, Infrastructure and Transport in S Korea

On Wednesday, police officers investigating allegations of speculation by employees of the Korea Land and Housing Corporation (LH) in Gwangmyeong and Siheung new cities in Gyeonggi-do conducted a search and seizure of the Ministry of Land, Infrastructure and Transport, a senior institution of LH.

It's been over a month since this real estate corruption situation was brought up.

The Special Investigation Unit for real estate speculators at the Gyeonggi Southern Police Agency sent 33 investigators to the Ministry of Land, Infrastructure and Transport at the Sejong Government Complex from 10 am to secure documents and supplies related to the investigation.

In addition to the Ministry of Land, Transport, the search and seizure took place in six locations including the LH headquarters in Jinju, Gyeongnam and the Bukshihung Nonghyup. The search and seizure of the Bukshihung Nonghyup ended at 1:30 pm and the Ministry of Land, Infrastructure and Transport at 4:30 pm.

Police plans to secure computers, mobile phones, and electronic documents of those involved in search and seizure to see if non-official information was used in the land purchase process.

This is the second search and seizure of LH Jinju headquarters after Mar.9, and the Bukshihung Nonghyup is a place where loans were made of LH employees under police investigation due to allegations of speculation.

The remaining three unknown sites for search and seizure were also reported to be related to LH employees' loans. (/Global Economic)

( With inputs from ANI )