Yoon Gap-geun Received Advisory Fee Before Drafting Advisory Contract

Metropolitan Employee Testimony... Lawyer: "Contract as a Measure to Prepare for Future Issues"

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] Court testimony revealed that former Daegu High Prosecutor General Yoon Gap-geun, who was prosecuted for requesting favors from Woori Bank to resume sales of Lime Asset Management funds, received advisory fees before drafting the contract while signing an advisory agreement with Metropolitan.

The Criminal Division 13 of the Seoul Southern District Court (Presiding Judge Lee Sang-joo) held a trial session on the 4th for former Prosecutor General Yoon, who was indicted on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes.

At the trial, Mr. A, who worked as the General Affairs Director at Metropolitan, testified, "In July 2019, under the direction of Chairman Kim of Metropolitan, we transferred 220 million KRW in advisory fees to the law firm affiliated with former Prosecutor General Yoon."

He added, "The advisory contract was stamped and received by email in November 2019," and explained, "We requested the documents from the law firm because the contract was needed for the third quarter VAT filing."

Regarding whether the law firm of former Prosecutor General Yoon actually provided legal advice after the advisory contract was signed, he said, "To the best of my knowledge, no advisory services were received."

Additionally, Mr. B, who worked as the Financial Director at Metropolitan, also testified, "The money was transferred first at the time of the advisory contract, and the contract was drafted much later for tax processing," and stated, "I understand that no actual legal advice was received from former Prosecutor General Yoon's side after the contract was signed."

Earlier, former Prosecutor General Yoon was arrested and indicted on charges of receiving 220 million KRW into the law firm's account as a bribe for requesting favors to meet the president of Woori Bank and have the fund resold, based on a request from former Lime Vice President Lee Jong-pil and Chairman Kim of Metropolitan Group in July 2019.

Former Prosecutor General Yoon claimed that the contract at that time was a legitimate advisory agreement. However, the prosecution views the payment as a bribe rather than advisory fees, based on Lee Jong-pil's testimony and the delayed timing of the contract's drafting.

In response, Yoon's defense team repeatedly emphasized that the advisory contract was not related to any request for favors involving Woori Bank.

Yoon's defense attorney argued, "The contract was made as a precautionary measure against potential criminal issues that might arise in Metropolitan in the future," and claimed, "Lee Jong-pil, who testified about the request for favors, was unaware that advisory fees had been paid."

Furthermore, the bail hearing for former Prosecutor General Yoon was also held during the trial. The prosecution opposed Yoon's bail application, stating, "There is no substantial reason under the Criminal Procedure Act to grant bail," and requested the dismissal of the bail petition.

The court decided to deliver the bail hearing results at a later date and concluded the hearing session that day.

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