Real Estate: Economy: News: Hankyoreh

Results of the first investigation by the government joint investigation team
22 people in one lot split their stakes
Four of these were revealed by LH employees.
Investigation of real name despite the widespread loan-name transaction
“A total survey of land owners is required”

Gwangmyeong Gwangmyeong Korea Land and Housing Corporation (LH) Gwangmyeong Siheung Business Headquarters on the 11th when the government joint investigation team announced the results of the first survey.  yunhap news

Gwangmyeong Gwangmyeong Korea Land and Housing Corporation (LH) Gwangmyeong Siheung Business Headquarters on the 11th when the government joint investigation team announced the results of the first survey. yunhap news

It was confirmed that 20 people who were found to have speculation suspicions through a government joint investigation group (joint group) investigation on the 11th showed behavior similar to those of speculators. However, with regard to the fact that the 20 confirmed in this survey, which accounts for 0.14% of the total of 14,300 survey subjects, voices pointing out the limitations of the real-name survey and the response to the North Koreans. As Prime Minister Chung Sye-gyun emphasized “innovation at the level of dissolution”, LH reform is also expected to speed up.

■ Typical speculation technique

According to the results of the joint investigation, a new case was discovered that was not included in the announcement of the association of lawyers for a democratic society (Minbyun) and participation among 20 people. Twenty-two people split stakes in a lot in Guarim-dong, Siheung-si, of which four were LH employees. Splitting shares is a representative method of illegal real estate speculation involving planned real estate. In addition, 21 of the total 22 lots they owned were land purchased before being designated as public housing districts. Nineteen lots were purchased two years before the designation, and three to five years before the two were also designated. In addition, in the process of investigating the land ownership status of the area adjacent to the eight areas to be surveyed (6 new towns in the third period, Gwacheon, Gwacheon, and Jangsang Ansan), apartments and villas were owned in Haengsin-dong, Hanam-si, Deokpung-dong and Namyangju Dasan New Town There were 144 (25 from the Ministry of Land, Infrastructure and Transport, and 119 LH) were confirmed. It has been confirmed that some land shares are held in houses such as apartments and villas, but the possibility of speculation is low. In this case, 11 people who did not agree to the use of personal information in this investigation have all submitted consent forms since, and when 3 consent forms that are currently delaying submission of consent due to reasons such as staying abroad are collected, an investigation is requested on the grounds of’consent rejection’. Seems not to be.

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■ Limitations of post-real name investigation

With regard to the fact that only 20, which is a very small number of 14,300, were already detected, the limitations of the’real name investigation’ were already predicted. Im Jae-man, a professor at Sejong University (Graduate School of Public Policy), said, “The name of the person or family will be small, and the transaction of acquaintances or borrowed names is bound to be investigated. Therefore, it is more efficient to conduct a thorough investigation of the land owners in areas where there is suspicion of speculation rather than investigating individual public officials.” “Since real estate speculation is a pervasive problem in our society rather than just public officials, a fundamental measure to criminalize real estate speculation itself is required,” he said. Some argue that a real estate supervisory body such as the Financial Information Analysis Agency (FIU) is needed. An adjunct professor at Yonsei University (Graduate School of Political Science) said, “The National Tax Service or the Finance side has the right to trace accounts. In a situation where the borrower name transaction is open, there is bound to be a limit to the effectiveness of the investigation conducted after the fact.”

■ LH reform is inevitable

In this investigation, there were 0 officials from the Ministry of Land, Infrastructure and Transport, and all 20 were found to be LH employees. LH, which was launched by the merger of the Housing Corporation and the Land Corporation as the 1st advancement of the public corporation of the Lee Myung-bak administration in 2009, is facing strong demand for reform at the level of’dismantlement’ after 10 years of its inception. Prime Minister Chung said at a briefing that day, “LH will continue to play a role in the supply of housing.” Regarding the LH reform, civil society and academia have discussed ways to differentiate LH into five to six functions such as urban regeneration, residential welfare, and housing development, and to establish new departments in charge of housing such as the Housing Administration and Housing and Urban Affairs Department. Professor Jung Joon-ho of Kangwon National University (Department of Real Estate) said, “Unless you are entrusting the entire housing market to the private sector, public development requires a dedicated organization such as LH with expertise.” It will have to be prepared.” By Jin Myung-sun, staff reporter [email protected]

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