The government says its interagency probe team has identified 20 individuals suspected of engaging in land speculation. 

Prime Minister Chung Sye-kyun announced on Thursday the results of the interagency team’s preliminary investigation that looked into land transactions involving employees of the Ministry of Land, Infrastructure and Transport and the state-run Korea Land and Housing Corporation(LH). 

The latest probe focused on transactions involving the cities of Siheung and Gwangmyeong in Gyeonggi Province. 

Chung said the investigative team found suspected cases of land speculation involving other cities that have been designated locations in a large government development project.

The government now plans to swiftly carry out a similar investigation into senior officials of Gyeonggi Province, Incheon, local governments and regional public corporations.  

Also on Thursday, the prime minister declared war against real estate crimes to root out speculative activity in the public sector, vowing efforts to devise special measures to sternly respond to illegal and unfair activities in the real estate market.