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| On the 8th, a banner condemning the alleged speculation of employees of the Korea Land and Housing Corporation (LH) is hung on the outer wall of a building in Dongja-dong, Yongsan-gu, Seoul. 2021.3.8/News1 © News1 Reporter Lee Seung-bae |
It was confirmed that at least one out of five land transactions made in the area of the planned new city area from 2018 to 2019, when the 3rd new city project was promoted, was a roadless land (blind land) within the green belt (development restricted area). It is an analysis that there is a high possibility that the new city plan was leaked in advance and even sold land that did not have value in use.
According to a media report on the 8th, it was revealed that 1989, 22.4% of the 8860 land transactions in the third new city, were’blind papers’ tied with a green belt. The investment value of the green belt is low because activities such as new construction and extension of buildings, changes in use, changes in the characteristics of land, and land division are restricted.
In the case of the Gwangmyeong and Siheung districts, which became a problem, 664 (29.8%) of the total 2227 land transactions were blind lands within the green belt. An official in the real estate industry analyzed that “the fact that many blind papers with no investment value were included in the transaction, it is highly likely that they were traded after hearing the investment information.” In addition, there is a story that speculation on the land surrounding the third new town is also serious. As such, it is analyzed that there is a high possibility that information on designation of the 3rd new city will be exposed in advance.
LH’s face was also revealed. In an article posted in the blind last month by an employee who revealed that he belongs to the LH management strategy and business planning profession, he evaluated the strength of LH as “a real estate-related company, so there are many opportunities to gain insights such as real estate investment.” Another LH employee, who is in charge of management support and management, also wrote in the blinds last year, saying, “If you are interested in real estate, it would be a good company,” and “There is a lot of information related to real estate.” This proves some of the arguments that real estate speculation using inside information was done as usual.
The testimony of internal staff about the allegations of LH dumping continues. “When I asked a junior who retired after working at LH for about 5 years, he said,’I knew this. I have to see not only the 3rd new town, but also the 1st and 2nd period.’
LH started to crack down on its own employees. In an e-mail sent to the employees of the Incheon Headquarters on the morning of the 8th, the LH Management Innovation Department said, “Some media companies are trying to check whether a specific person is working, rank, affiliation, and related personnel to identify people related to Gwangmyeong and Siheung.” “It’s personal information, so I can’t confirm it.”
Donum’s respect for LH was also on the cutting board. According to the’Architectural Design Competition and Construction Management Service Project Order Status’ submitted by LH by Rep. Song Eon-seok, 11 out of the top 20 LH service business orders signed by private contracts last year are representatives from LH or are in high-ranking positions. It turned out to be seated. Over the past year, LH signed private contracts worth 2252 billion won, and these 11 companies won 94.9 billion won (42.1%) contracts.
Company B, which received the largest number of orders (17.3 billion won) through private contracts with LH last year, is a former vice president of Korea National Housing Corporation, and a former director of LH is also joining as a partner. Company C, which ranked second in LH orders last year, has three joint representatives from Korea National Housing Corporation, the predecessor of LH. Including companies whose employee history has not been disclosed, the industry believes that more than 90% of the top 30 companies in the order amount have hired from LH.
Regarding this, LH said, “LH complies with the voluntary contract regulations stipulated in the national contract law and is conducting contracts for all service projects such as construction.” “I can’t tell you the reason for that,” he added.
On the other hand, President Moon Jae-in emphasized, “Do not disappoint the people,” saying, “We must mobilize all the government’s administrative power and all investigative power in relation to the allegations of land speculation by LH employees.”
President Moon said, “At the government level, the joint investigation team is conducting a wide range of investigations, but there is no need to do the investigation first and after the investigation. Investigation and investigation are bound to go together.” He said, “You have to do it at the same time, and the results of the joint investigation are handed over to the noodle version at that time,” he said.
“The prosecution also needs’organic cooperation’ with the police to establish the know-how, techniques, and direction of the investigation,” he said. “The prosecution-police should consult more closely.”