POLICE RAID LH REGIONAL OFFICE

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Police have raided a regional office of the embattled Korea Land and Housing Corporation as part of the ongoing probe into alleged land speculation. The homes of LH employees implicated in the scandal were also searched. Police say that among some 300 suspects, 72 civil servants and public firm officials have been identified so far. Authorities vowed to review arrest warrants for those confirmed to have used insider information to engage in land speculation.

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Police officers seen here at the Korea Land and Housing Corporation's regional headquarters in Jeollabukdo Province are carrying out confiscated materials. The Jeonbuk Provincial Police Agency on Monday raided the office and residence of two LH employees booked on charges of real estate speculation. Their vehicles were also searched. They are accused of using insider information to purchase properties near government-planned development areas in Gwangmyeong, Gyeonggido Province and Jeollabukdo Province.

[Soundbite] Official, LH Jeollabuk-do Prov. HQs(VOICE MODIFIED) : "(Give us a brief statement on the latest scandal.) I'm sorry."

Meanwhile the Gyeonggi Nambu Provincial Police Agency, which began questioning suspects on Friday, summoned three more former and incumbent LH employees.

[Soundbite] Incumbent LH employee(VOICE MODIFIED) : "(Do you admit to illegal land speculation?) I will sincerely face questioning."

Gyeonggi Nambu police will complete grilling the other 9 remaining suspects by this week and review whether to seek arrest warrants. The number of people suspected of speculative activities is also growing by the day. According to the National Investigation Headquarters, as of Monday morning, there were 61 suspected cases under investigation involving 309 individuals. Of this total, 41 are civil servants and 31 are public firm officials. This does not include the 23 provincial officials an inter-agency government investigation team uncovered last week as well as one employee of the presidential security service announced by Cheong Wa Dae following its own internal probe. Of those to be questioned, a former chief of the National Agency for Administrative City Construction, which is a vice ministerial position, is known to be the highest ranking official. This person purchased land near a prospective development site in Sejong City.
National Police Agency Commissioner General Kim Chang-yong stressed that public officials who used their status to gain insider information to make speculative land purchases will be taken into custody for questioning.