Profits from illegal sales of national industrial complex land reached 26.8 billion won over 5 years

It was revealed that over the past five years, illegal land sales in the national industrial complex have resulted in a profit of more than 26.8 billion won.

As a result of analysis of data submitted by the Korea Industrial Complex Corporation, Lee Won-young Yang (independent), a member of the National Assembly’s Committee on Small and Medium Venture Business, found 27 cases of illegal land sales in the national industrial complex over the past 5 years (2016 to August 2021). It was announced on the 4th that there was a huge amount of unfair market profit as a result of this. The national industrial complex was established for the development of underdeveloped areas that need to foster and promote national key industries and high-tech industries in accordance with the Industrial Location Act. The purpose is to foster small and medium-sized enterprises (SMEs), and only transfer or purchase applications through the management institution are possible within 5 years on the premise of low-cost supply. In the past five years, there have been 27 cases of illegal disposal in national industrial complexes, of which 22 have made a profit. The total amount reached 26,877 million won.

The number of cases detected was the largest in the Gumi Industrial Complex with 15 cases (about 56%, or 7.158 billion won). In the case of Sihwa MTV, a new industrial complex adjacent to the metropolitan area, only 4 cases were caught, but it was found that the market profit was the largest at 15.52 billion won (about 58%). Despite the huge market profit, it is also impossible to properly deal with illegal acts aimed at it because there is no basis for recovery due to the limitations of the current law.