9 LH employees, purchased land with 4.3 billion won loan from North Siheung Nonghyup

[LH직원 신도시 투기 의혹]Suspicion of interest rate benefits by joining a union
National Agricultural Cooperative Federation, after on-site inspection
In the process of purchasing land in Gwangmyeong and Siheung districts in Gyeonggi-do, Korea Land and Housing Corporation (LH) employees, the National Agricultural Cooperative Federation conducted on-site inspection of the North Siheung Nonghyup, which received over 4.3 billion won in loans. The central assembly is in charge of managing regional agricultural cooperatives (unit agricultural cooperatives) such as the North Siheung Nonghyup.

The National Agricultural Cooperative Federation announced on the 5th that “there is a plan to decide whether to initiate a formal investigation according to the results of on-site inspections conducted from the previous day. According to the data received from the National Assembly by Jung Un-cheon, the Office of the People’s Power, nine LH employees suspected of land speculation received a loan of 4.31 billion won from the North Siheung Nonghyup. Usually, farmland mortgage loans are not handled by commercial banks, so it seems that LH employees received loans from local agricultural cooperatives.

The central assembly is in the position that there is no problem with the lending process so far. An official from the National Federation said, “After reviewing the owner and the ability to repay, it is understood that the mortgage loan was issued through a legal procedure. However, it is pointed out that in the financial sector, the Nonghyup was able to fully doubt LH employees’ applications for farmland mortgage loans, which are unlikely to actually build farming during the loan review process. In addition, there were suspicions that some of these employees joined the union and received preferential interest rates given to members. In response, the National Assembly said, “The actual farming is confirmed by the administrative agency at the trading stage and is not subject to loan review. In addition, it is not possible to inform the member whether or not to join the union because it is personal information.” Sejong = [email protected]Go to reporter page>