South Korean President's brother's house searched

South Korean investigators on October 17 conducted a special search of the home and office of President Lee Myung-Bak's eldest brother to investigate allegations of wrongdoing in a project to build a retirement home for the president.

Lee Sang-Eun's home and office were searched. Photo: Yonhap News

The search was part of an investigation into allegations that President Lee Myung-Bak's only son Si-hyung and the presidential security agency violated real estate laws and used tax money to buy a large plot of land for a presidential retirement home project in Naegok-Dong, on the southern edge of Seoul.

It is known that Mr. Lee Sang-eun, the eldest brother of President Lee Myung-Bak, lent his nephew 600 million won (542,000 USD) to buy land.

"The search is aimed at gathering additional evidence needed to verify information such as cash flow and contract details," Special Prosecutor Lee Kwang-Bum said at a press conference.

Yonhap news agency said the search took place at the home of Mr. Lee Sang-Eun in eastern Seoul.Seouland his office at the car seat maker DAS, where he is president, in the southeastern city of Gyeongju.

The 63-member search team also searched several other locations linked to Lee Si-Hyung and two real estate companies involved in the land purchase last year.

The controversial land purchase has been the focus of attention since last year, involving Lee Si-Hyung and the presidential security service. Opposition parties and civic groups have claimed that Lee Si-Hyung and the security service paid different prices for the plot of land that was to be used as a post-election residence for President Lee Myung-Bak. The land also includes homes for other security personnel.

Specifically, the security agency had to pay too high a price, while President Lee Myung-Bak's son was sold at a price lower than the market price and enjoyed the profit.

The South Korean presidential office denied opposition allegations that there was an illegal plan to help the president's son profit. President Lee Myung-bak later scrapped the entire project and decided to move to his current private residence in the south.Seoulafter leaving office in February 2013.

Previously, on October 16, special prosecutor Lee Kwang-Bum requested the Ministry of Justice to ban Lee Si-Hyung and 10 others from leaving the country, including former presidential security official Kim In-Jong.

According to Nguoilaodong-M