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LH Land Speculation Scandal in South Korea

Modus operandi

LH employees A, who are suspected of speculation, have bought land in Mujinae-dong, Siheung-si, Gyeonggi-do, which was announced as a new city in Gwangmyeong and Siheung-si, Gyeonggi-do since 2017. After that, they planted Salix matsudana there. Although it is appropriate to plant one tree per 3.3 square meters, they planted dozens of trees. In land acceptance, the tree compensation fee is determined mainly by multiplying the transplant cost per tree by the total number of trees. The more you plant, the more compensation costs you will get. You can also evaluate the price of a tree, but the faster it grows, the higher the emotional price. Salix matsudana are considered to be the fastest growing numbers when they are young.

According to data submitted by the Democratic Party of Korea's private jet office from Siheung and Gwangmyeong in Gyeonggi Province on March 8, 2021, LH employees were found to have submitted an agricultural management plan containing false information to local governments. LH employees filled out rice, sweet potatoes, and corn in the crop column, but in reality, they planted seedlings, such as Salix matsudana, which are easy to plant and are advantageous to be compensated for because they don't have to be managed. "Planting seedlings is a method that people who purchase farmland for speculative purposes often use to compensate for the costs of moving and planting," said a land appraisal company.

According to data submitted by the Deobooleoh Democratic Party's Jeon Yonggi office from Siheung and Gwangmyeong in Gyeonggi Province on March 8, 2021, LH employees were found to have submitted an agricultural management plan containing false information to local governments. LH employees filled out rice, sweet potatoes, and corn in the crop column, but in reality, they planted seedlings, such as Salix matsudana, which are easy to plant and are advantageous to be compensated for because they don't have to be managed. "Planting seedlings is a method that people who purchase farmland for speculative purposes often use to compensate for the costs of moving and planting," said a land appraisal company.

Reaction

LH speculation has maximized antipathy toward the government's ruling party. It is also the Moon Jae-in government and the ruling party's approval rating, respectively, the current administration made an all-time low.