People Power Party Files Charges Against Democratic Party Lawmaker Lee Sang-jik for Embezzlement and Breach of Trust

[Asia Economy Reporter Park Cheol-eung] The People Power Party has filed a complaint with the prosecution requesting an investigation into allegations of embezzlement and breach of trust against Lee Sang-jik, founder of Eastar Jet and member of the Democratic Party of Korea.

The People Power Party's "Special Committee for Fact-Finding on the Lee Sang-jik-Eastar Corruption Allegations" stated on the 10th, "Since August, we have investigated whether the lawmaker operated the company negligently to maximize benefits for himself and his family, and whether there were any hidden funds. We have identified allegations of embezzlement, breach of trust, and violations of the Capital Markets Act, and have filed a complaint with the Supreme Prosecutors' Office requesting an investigation."

Eastar Jet's merger and acquisition by Jeju Air fell through, and on the 7th, it caused controversy by notifying about 600 employees of layoffs.

The special committee said, "According to the 2014 court ruling in which Lee Sang-jik's older brother Lee Kyung-il was found guilty, it was noted that Lee Kyung-il directly gained little benefit from embezzlement and breach of trust, and that it appears Lee Sang-jik benefited. Since Lee Kyung-il's embezzlement and breach of trust were for Lee Sang-jik, an investigation into possible collusion between the brothers is necessary."

Regarding allegations of embezzlement and breach of trust related to Eastar Holdings' acquisition of Eastar Jet shares, the committee claimed, "Lee Sang-jik sold Eastar Jet shares held by Saemangeum Tourism Development and IMS Co. at a low price to Eastar Holdings, operated by his son Lee Won-jun and daughter Lee Su-ji, causing hundreds of billions of won in losses to those companies."

The committee added, "Ahead of the 19th presidential election, during the Democratic Party primary, Eastar Jet's former executive Kim Yoo-sang, affiliated with the Democratic Party, allegedly instructed illegal recruitment of Moon Jae-in's election delegates. This was done to support President Moon despite violating election laws. In March 2018, President Moon appointed Lee Sang-jik as chairman of the Small and Medium Business Corporation, and in July of the same year, the president's son-in-law was employed by Thai Eastar Jet. Later, Lee Sang-jik was nominated as a Democratic Party candidate in the 21st general election and became a member of the National Assembly."

They concluded, "We hope the prosecution will promptly and accurately investigate the various corruption allegations against Lee Sang-jik, including embezzlement and breach of trust, to uncover the truth."

This content was produced with the assistance of AI translation services.