|The LH company (cdnimage.ebn.co.kr)|
The illegal property speculation of the Korea Land and Housing Corporation (LH) employees in March was a huge controversy in South Korea. LH is a corporation in charge of constructing new buildings to develop the areas outside the capital. Some of the chosen areas are Wangsuk in Namyangju, Gyosan in Hanam, and Gyeyang in Incheon. The goal of this development was to provide a safe home at a lower price to people in Korea. Some employees of LH, however, unfairly bought the land and properties in those areas by getting hold of the information earlier. The government responded to the situation with the announcement of firing those who were accused of illegal speculation and taking measures to revoke the illegally acquired properties. Chung Sye-kyun, Prime Minister of South Korea, has addressed the issue by stating that illegal speculation will be handled seriously. After the investigation has begun, however, some suspects committed suicide, causing some people to worry that it would hinder the ongoing investigation. Along with the police announcing a full investigation, citizens are keenly watching how the situation will unfold.
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