Prosecutors Summon Former SK Telesys Executive for Investigation... Related to SK Networks Chairman Choi Sun-won's Slush Fund

SK Networks Building, Namdaemun-ro, Seoul.

[Asia Economy Reporter Choi Seok-jin] The prosecution, investigating allegations of slush fund creation involving Choi Cheol-won, chairman of SK Networks, is conducting inquiries into former executives of SKC’s subsidiaries, where Choi served as chairman from 2000 to 2015.

According to the legal community on the 13th, the Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors’ Office (Chief Prosecutor Jeon Jun-cheol) summoned several former executives of SK Telesys, a subsidiary of SKC, as witnesses for questioning that morning.

A prosecution official stated, “We are simultaneously analyzing seized materials and conducting summons investigations of related parties.”

After receiving a referral from the Financial Intelligence Unit (FIU) in 2018 regarding suspicious fund flows amounting to around 20 billion won involving SK Networks, the prosecution assigned the case to the Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office. They conducted a long-term internal investigation including account tracking before recently reassigning it to the Anti-Corruption Investigation Division 1.

The prosecution has registered Chairman Choi on charges including embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes and is reportedly verifying whether he mobilized affiliates to create slush funds and then transferred them overseas.

Earlier, on the 6th, the investigation team conducted simultaneous raids on 10 locations including SK Networks and SKC headquarters and Seoul offices in Jung-gu, Seoul, SK Telesys headquarters, and Chairman Choi’s residence, transitioning the case to a public investigation.

Since then, the investigation team has been analyzing seized materials and sequentially summoning affiliate officials who were in office during Chairman Choi’s tenure for questioning.

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