This photo, taken last Thursday, shows the headquarters of the state-run housing developer Korea Land and Housing Corp. (LH) in Jinju, some 284 kilometers southeast of Seoul. (Yonhap)
Finance Minister Hong Nam-ki said on Monday that the latest land speculation scandal involving public officials is a wake-up call for public servants whose misdeeds undermine the credibility of key policies.
Public outcry mounted over allegations that employees of the state-run housing developer Korea Land and Housing Corp. (LH) used internal information on housing supply projects for their speculative property investments.
"Public servants should take the latest case with extra vigilance as misdeeds committed by civic servants can damage trust toward their organizations and policies," Hong said in a message to senior finance ministry officials.
A day earlier, the government vowed zero tolerance for public servants found to be involved in property speculation using insider information, including filing criminal charges and retrieving their ill-gotten profits. (Yonhap)