LAWMAKERS SUSPECTED OF LAND SPECULATION

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An investigation has revealed that 12 Democratic Party lawmakers and their relatives are suspected of real estate speculation and illegal transactions. The Land and Housing Corporation's land speculation scandal has spread to the National Assembly. The ruling party requested the Anti-Corruption & Civil Rights Commission to investigate the matter back in March.

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The Anti-Corruption & Civil Rights Commission investigated some 800 people including 174 Democratic Party lawmakers and their relatives. The commission looked into their real estate transactions of the past seven years. Criminal investigation has been requested for 16 cases. In six of them lawmakers were found to be personally involved in real estate speculation and illicit deals. Six of the lawmakers were found to be involved in dubious transactions along with their relatives, including spouses.

[Soundbite] Kim Tae-eung(Anti-Corruption & Civil Rights Commission) : "We have transferred the cases to the government task force investigating public servants' real estate speculation."

The uncovered allegations mostly include violations of the Farmland Act, the Building Standards Act and the Real Estate Real Name Act. Three cases of using confidential business information to purchase land or properties have also been uncovered.

[Soundbite] Kim Ki-seon(Anti-Corruption & Civil Rights Commission) : "We can't answer whether any former or incumbent members of the Land, Infrastructure and Transport Committee are on the list."

Some of the lawmakers purchased real estate ahead of the announcement of large-scale urban development projects or bought land related to regional development projects under their own name or their relatives' names. Two cases were related to the third urban development project. The commission is refusing to disclose the list of the suspected lawmakers as a criminal investigation is needed. The commission conducted the investigation over two months at the request of the DP after the LH land speculation scandal had spread to its lawmakers. The party has pledged to take stern measures against members found to be involved in real estate speculation. However, now that 12 of its members are facing accusations, the party is in a cumbersome position.

[Soundbite] Koh Yong-jin(Democratic Party) : "We will take stern and transparent measures. We will announce the results through a leadership meeting."

Some in the ruling party are warning against jumping to conclusions, as the final results of an investigation to be conducted by a special team are yet to come.