Prime Minister Chung Sye-kyun on Monday ordered the launch of a special interagency investigation team… to probe into allegations of land speculation by several employees at the Korea Land and Housing Corporation.
While the National Investigation Headquarters will run the probe, it will be joined by the National Tax Service and the Financial Services Commission.
"While holding a meeting with the head of the National Investigation Headquarters, the prime minister ordered the launch of a special interagency investigation team and called for a thorough probe into the allegations."
Chung said the launch of a special interagency was so that the investigation team has the power it needs to carry out the probe.
The government plans to immediately request that it looks into the case once the joint investigation team announces the findings from its own fact-finding inquiries this week.
Around 100-thousand people are expected to be investigated over the scandal.
This comes after several employees at the state housing corporation were accused of making speculative land purchases in areas now part of a development project.
Over the three years from 2018 to 2020, the employees are accused of buying plots of land worth 9 million U.S. dollars in Gwangmyeong and Siheung even before the government included the two cities in its latest development project sites.
Just recently, the land ministry named those two cities in Gyeonggi-do Province as sites for 70-thousand new homes.
The joint government investigation team said that it will look into the details of land transactions made by employees who have worked in institutions and departments related to housing development projects over the past five years.
They also plan to probe the employees' family members, including their spouse and children.
About 14-thousand people will be among the first to be investigated.
This includes 10-thousand employees at the Korea Land and Housing Corporation and four-thousand public officials at the Ministry of Land, Infrastructure and Transport and local government offices.
The results of the investigation will be announced as early as this Thursday.
Min Suk-hyen, Arirang News.