President Lee: “If there are illegalities, correct them even now” ... Third special real estate crackdown announced

[Financial News] On the 5th, President Lee Jae-myung disclosed the police’s results in a special crackdown on real estate crimes, saying, “Isn’t it time to put an end to the era of making money through illegal, unlawful, criminal acts such as real estate speculation?” He also reported that a third special crackdown would begin soon and urged people to voluntarily correct any illegal conduct.
That day, President Lee attached to X (formerly Twitter) materials containing the results of the Korea National Police Service’s National Office of Investigation (NOI) crackdown on real estate crimes, describing them as “the results of the NOI’s yearlong crackdown on real estate speculation since I took office.”
He added, “The third crackdown will begin soon, too. If there are any illegalities, I hope you will correct them even now.”

According to the materials released by President Lee, the police conducted the first and second special crackdowns on real estate crimes over about a year, from October 17 last year to October 31 this year, taking action against a total of 3,565 people. Of those, 2,151 were referred to prosecutors, and 16 were taken into custody.
By type of crime, farmland speculation was the most common, involving 898 people, or 25.2% of all those targeted in the crackdown. It was followed by acts disrupting order in the supply system, with 795 people (22.3%), and illegal brokerage, including land-price manipulation, with 726 (20.4%).
Nominee ownership and unregistered resales accounted for 616 people (17.3%); corruption involving reconstruction and other projects, 353 (9.9%); organized real estate fraud, 169 (4.7%); and speculation using insider information, 8 (0.2%).
As for the actions taken, aside from those referred to prosecutors, 714 people were not referred, while investigations and inquiries involving 700 people are ongoing.
The materials President Lee attached also included an outline of the third special crackdown on real estate crimes, along with the slogan “Relentless enforcement, severe punishment without exception.” By sharing the crackdown results and follow-up plans, President Lee underscored his policy of continuing to respond to illegal activity in the real estate sector.
[email protected] Choi Jong-geun Reporter