Moon urges law to prevent 'conflict of interest' among public officials amid LH scandal

President Moon Jae-in speaks during a meeting at Cheong Wa Dae in Seoul, Monday. Yonhap

President Moon Jae-in stressed the need Monday to introduce legislation on preventing civil servants from seeking private advantage via their positions, citing public fury over alleged speculative land purchases by employees at the state-owned housing enterprise.

"On this occasion, we will have to enact a law on preventing the conflict of interest among public officials at any cost," he said during an Anti-Corruption Policy Consultation Council meeting held at Cheong Wa Dae.

It marked the first time in nine months for the president to convene the session joined by heads of major ministries and other government agencies with power and authority to handle the anti-corruption issue.

It came in response to a snowballing real estate speculation scandal that began with a revelation that some officials at the Korea Land and Housing Corp. (LH) had used undisclosed information for the purchase of undeveloped land around Seoul, where new residential towns would be built.

"We must take the anger and rebuke of the people seriously," Moon said.

He urged all-out efforts for a resolution to the "structural and fundamental" problem of property-related corruption.

He said that the government should not consider political gains or disadvantages in pushing for the campaign.

The mandatory registration of assets should be expanded to all civil servants in South Korea, he added.

He also reiterated a plan to set up a special government arm to oversee unfair and illicit real estate transactions. (Yonhap)