Real Estate: Economy: News: Hankyoreh

After the home was lifted in 2015
Dedicated to a special management area for 10 years
It is the number one candidate for the new city.
When the rewards are high, they buy in front

Seedlings are planted in Gwarim-dong, Siheung-si, Gyeonggi-do, where LH employees' suspicion of land dumping has been raised.  yunhap news

Seedlings are planted in Gwarim-dong, Siheung-si, Gyeonggi-do, where LH employees’ suspicion of land dumping has been raised. yunhap news

As a result of a joint government investigation, 15 out of 20 employees of the Korea Land and Housing Corporation (LH) who purchased land in the 3rd new city in the metropolitan area were found to be concentrated in Gwangmyeong and Siheung, and there are doubts and back words about this. Recently, in Gwangmyeong and Siheung, a suspicious situation aimed at compensation such as planting rare trees (dragon willows, etc.)of LH employees who purchased the land was revealed one after another, and it was pointed out as a place where LH employees are likely to have grasped the new city development information in advance. It has been done. As a result of this survey, it was found that out of the eight new cities, Gwangmyeong and Siheung purchasers accounted for 75% of the total, raising suspicion. However, it is not easy to predict whether LH employees will purchase land after grasping the information on the development of new cities in Gwangmyeong and Siheung until the truth is revealed by the government joint investigation headquarters investigation. In the real estate industry, some LH employees are placing weight on the possibility that they purchased Gwangmyeong/Siheung land in any way aiming for compensation for development and asset growth. Gwangmyeong-Siheung was a land that could be created as a public housing district at any time as the Bogeumjari housing district was lifted in 2015, and private development was restricted until 2025 as it was bound to a special management area. Therefore, it has emerged as a promising new city candidate since September 2018 when the government announced its supply measures to develop large-scale public housing districts such as the 3rd new city in the metropolitan area to expand housing supply. It is highly probable that after at least September 2018, LH employees would have started to purchase land, judging that the Gwangmyeong and Siheung areas are likely to be developed as new cities in the near future, even if they did not obtain specific development-related information. In particular, some LH employees purchased the land in Gwangmyeong and Siheung in 2017-2019, and then additionally purchased a field in Guarim-dong, Siheung-si in February of last year, and then split (divided) it into four lots of 1,000 square meters or more in July. Experts point out that this seems to be a situation aiming at the special supply of detached housing land or apartments given to the negotiated transferor who passes the land to the appraised price. The policy of the Ministry of Land, Infrastructure and Transport was confirmed internally in May of last year. Therefore, it is suspected that these employees, who were in charge of compensation at LH’s Gyeonggi Regional Headquarters, prepared for compensation from at least the second half of last year before the designation of a new city in Gwangmyeong and Siheung (February of this year). Experts draw a line that, as a result of the government’s thorough investigation, LH employees’ land transactions in the new city area were less than expected, and that the results of the investigation, including relatives and loan-to-name transactions, should be observed. Choi Min-seop, a professor at Seoul Venture Graduate University (Department of Real Estate), said, “As Minister Byeon Chang-heum mentioned, actually an LH employee purchased all answers in preparation for retirement, but there may be cases where it was unfortunately designated as a new city. What he affirmed before even conducting an investigation was frivolous words and actions.” By Choi Jong-hoon, staff reporter

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