It was found that 70 employees of the Korea Land and Housing Corporation (LH) received overlapping apartment sales in Jinju City, Gyeongnam, where the head office is located, and Sejong City, where the branch office is located, using a special supply method. According to data received from the Ministry of Land, Infrastructure and Transport, Rep. Song Eon-seok of the National Assembly’s National Land, Infrastructure and Transport Committee on the 26th, 70 LH employees were sold specially-supplied apartments in Sejong and Jinju in duplicate and earned a market price margin of up to hundreds of millions of won. Of these, four were found to have been repeatedly sold specially-supplied apartments in Sejong City and Jinju in just one year interval.
It was confirmed that 56 out of 70 people who received duplicate sales had disposed of some or all of the apartments that were sold. Mr. A, an LH employee, sold an apartment pre-sale in Jinju for KRW 25.23 million in 2016 for 300 million won, leaving a market margin of 47.7 million won.
In addition, apartments sold in Sejong City for 348 million won in 2015 were traded at 1.3 billion won as of March 2020. B, who sold an apartment in Sejong City in 2014, sold an apartment in Sejong City last year, leaving a market margin of 590 million won. In the meantime, Mr. B received a special supply from Jinju in 2017. In addition, it was analyzed that if these employees sold 53 apartments currently owned, they could make an average of 740 million won in market profit compared to the pre-sale price. Rep. Song said, “The realization of market profits through the redundant sale and sale of specially supplied apartments by some LH employees is an unreasonable act after depriving end users of opportunities.” The system must be completely supplemented,” he said.
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