RESULTS OF PROPERTY INVESTMENT PROBE

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The Anti-Corruption & Civil Rights Commission has announced the results of a probe into property investments by lawmakers from the People Power Party and five minor parties. Twelve members of the PPP and one member of the Open Minjoo Party have been found to be involved in dubious real estate transactions. Rep. Kim Ui-kyeom has denied the allegation.

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​Fourteen cases of dubious real estate transactions by 13 lawmakers. That’s the result of a probe conducted by the Anti-Corruption & Civil Rights Commission, looking into lawmakers from the People Power Party and five minor parties as well as the lawmakers' family members. The commission has alleged that eight PPP lawmakers are personally involved in illegal property deals, while the remaining cases are linked to their family members. Six cases involve violations of the Farmland Act, two -- illegal inheritance and tax evasions, one — real estate name trust, and four — violations of the Land Compensation Act.

[Soundbite] Kim Tae-eung(Anti-Corruption & Civil Rights Commission) : "We looked into all cases, regardless of scope, to uncover any irregularities that the public may take an issue with."

One lawmaker from the Open Minjoo Party is believed to have used confidential information in a suspicious property transaction. Although the names of the lawmakers had not been disclosed, Rep. Kim Eui-kyeom immediately issued a statement denying the accusation. The commission says no allegations of the lawmakers’ involvement in suspicious transactions in the third urban development project have been disclosed at this time. A probe conducted earlier on the ruling Democratic Party revealed two cases of illegal deals in urban development areas. Regarding Democratic Party Rep. Woo Sang-ho’s alleged violation of the Farmland Act, a case that was closed by police without indictment, the commission said Woo was not indicted because his statute of limitation had already expired. The latest probe looked into property deals conducted over the past seven years by 507 people including lawmakers from the People Power Party, five minor parties and their family members. The commission has sent the results of the probe to the special investigation headquarters and political parties, and requested an investigation. PPP Chairman Lee Jun-seok had warned earlier of stern measures against party members who are found to have acquired real estate using irregular means.

[Soundbite] Lee Jun-seok(People Power Party chairman) : "We will convene an emergency executive meeting to discuss the issue and devise measures."

The Democratic Party is demanding harsh punishment that can appease the public.