A senior official from the presidential security service has been sent to prosecutors for suspicion of attempted fraud related to a redevelopment project that has been stalled for over ten years.
A senior official from South Korea's Presidential Security Service has been sent to prosecutors on suspicion of attempted fraud linked to the Noodle Station redevelopment project, which has faced significant delays for over a decade. The official, identified as a deputy director (Grade 3), allegedly participated in actions that obstructed the development process by being involved in a collective registration scheme proposed by a group called the Property Protection Alliance.
The redevelopment project originally received approval from Seoul City in 2010 but has since stalled due to complications arising from a collective registration set up by members of the Property Protection Alliance, which requires compensation for properties affected by the project. It has been reported that the project developer has secured over 99% of the land needed for development, but the necessity of full ownership has kept the project from moving forward as the members of the alliance have maintained claims on certain properties.
Despite previous lawsuits filed against the Property Protection Alliance members alleging fraudulent registrations, which resulted in victories for the developer last year, ongoing appeals indicate that the conflict surrounding the redevelopment is likely to continue. This situation underscores broader issues in South Korea's property development regulations and the impact of group claims on urban projects.
