LH suspicion is still dark… Hong Nam-ki “Additional selection of public redevelopment sites by March”

The government announced the results of the first survey of 20 people suspected of speculation by the Korea Land and Housing Corporation (LH), but amid doubts still remain, the government decided to announce additional candidates for urban public development such as Seoul at the end of this month. It is planning to announce a new development site again before the transparent verification of whether or not speculation using public-led development information is achieved. Instead, it decided to investigate the process of large-scale loans used to buy land in relation to allegations of speculation by LH employees. The intention is that it will not tolerate only the shaking of the state-led real estate supply measures and real estate stabilization policy.

Hong Nam-ki, Deputy Prime Minister of Economy and Ministry of Strategy and Finance, presided over the 16th meeting of ministers concerned with real estate market inspection at the government building in Seoul on the 12th, and in response to allegations of speculation on land in the new city of LH employees, “to eradicate speculation and prevent recurrence of speculation with the determination to fight real estate. I will pitch all my power,” he said.

Deputy Prime Minister Hong also said, “In the case of the LH that triggered this situation, it is absolutely necessary to change the transformation of the country as it has lost a lot of public trust.” “I will come up with an innovation plan as soon as possible.”

Deputy Prime Minister Hong suggested four directions regarding the preparation of real estate speculation measures announced on the 7th of this month. ▲ Preventive measures to prevent speculation and illegal and unfair practices from attempting in the first place, ▲ Measures to establish a system that must be caught if attempted, ▲ Measures against punishment by violently punishing once caught, ▲ Not only punishment, but illegal unfair gains This is a countermeasure to recover the abnormality. In particular, the government decided to investigate the process of large-scale loans used to purchase land in relation to allegations of speculation by LH employees. Deputy Prime Minister Hong said, “This LH speculation case was possible because large-scale loans were made collectively and intensively at specific branches of the banking sector.” “It is necessary to check whether there is no silver or not,” he said. Deputy Prime Minister Hong urged supervisory agencies such as the Financial Supervisory Service to thoroughly investigate the process.

The problem is that the government will announce another site for development before the allegations are resolved. Deputy Prime Minister Hong said on the day that “the real estate policy, including the 2.4 housing supply measures, will continue to be carried out without a hitch according to the already announced plan and the proposed schedule.” He added, “In relation to the urban development project among the 2.4 supply measures, we have held business briefing sessions for 25 autonomous districts in Seoul, and conducted private consulting and consultations for a total of 500 cases,” he said. “Based on this, the project conditions were recommended by local governments, etc. “We plan to select these excellent candidates and release them by the end of March.”

If it is selected as a public redevelopment area, Korea Land and Housing Corporation (LH) or Seoul Housing and Urban Corporation (SH Corporation) will participate as the maintenance project manager. In January, the Ministry of Land, Infrastructure and Transport announced eight locations, including Heukseok District 2 in Dongjak-gu, Seoul, as candidate sites for the public redevelopment pilot project (first phase). The Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government plan to select and announce a second candidate site by the end of this month. There are 47 sites that are considered as candidates for secondary public redevelopment. Deputy Prime Minister Hong said he will continue to announce public-led housing supply measures and planned development sites regardless of the recent allegations of speculation by LH and public officials in the new city.

In particular, Deputy Prime Minister Hong said, “We will announce in April after thorough preparation and verification of the location of the remaining new public housing sites with the size of 150,000 households.” Regardless of the relationship, we will proceed as planned.”

There are concerns that the government’s will to make things worse. Before and after this incident, a banner of “Anti-Public Redevelopment Association” was hung in each area that was previously recommended as a candidate for public redevelopment in Seoul. He opposes unbelievable public redevelopment and would rather promote private redevelopment.

On the 11th, the previous day, the opposition party, People’s Power, said, “We should no longer simply reduce this situation to LH speculation, and demand a full re-examination without sanctuary.” In addition, he urged “to completely re-adjust policies for state-led public redevelopment, new towns centered on the Ministry of Land, Infrastructure and Transport and LH, and residential land development.”

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