Second LH official found dead amid land speculation scandal

The Korea Land and Housing Corp's logo is seen at one of the state-run company's local offices in Seongnam, Gyeonggi Province, March 12. Yonhap

A state housing development official was found dead Saturday, according to police, in what could be an apparent suicide as a scandal concerning land speculation by civil servants has been rocking the nation.

The official of the Korea Land and Housing Corp. (LH) was found hanging inside a container in Paju, north of Seoul, at around 10:05 a.m., police said.

Officers are now investigating the exact cause of death.

On Friday, another LH official was found dead in an apparent suicide in the garden of an apartment building in Seongnam, just south of Seoul.

The deaths came as a joint investigation team found that LH employees bought land for alleged illegal speculation in two cities, south of Seoul, before the government announced major public housing developments there.

The land speculation by employees at the state developer has drawn a strong backlash from the public, as many non-homeowners are feeling the pinch of rising housing prices despite a series of government measures.

The administration has vowed zero tolerance for public servants found to be involved in real estate speculation using inside information, including filing criminal charges and seizing any ill-gotten profits. (Yonhap)