South Korean President Lee Myung- bak on Friday gave a nod to an independent into allegations of irregularities in a land deal involving his son.

Lee's ruling Saenuri Party and the main opposition Democratic United Party passed the bill that calls for an independent probe into the now-scrapped project to build the president's retirement residence in an affluent Seoul neighborhood.

Local media last year reported 462 square meters of land designed for Lee's retirement home was bought in his son's name, which prompted suspicions of real estate speculation and tax evasion.

The Democrats sued Lee's son, Si-hyung, for his involvement in what they say was a dodgy land deal, but prosecutors dropped all charges against him and presidential officials in June.

A special prosecutor will be appointed to conduct a 30-day probe after the opposition recommends candidates.