Lawmaker Lee Sang-jik Faces Bail Hearing Today on Charges of Embezzlement and Breach of Trust Involving Hundreds of Billions

Lee Sang-jik, a member of the Democratic Party of Korea, is expressing his position on the Eastar Jet crisis at the National Assembly on the 24th. Lee, the founder of Eastar Jet, took responsibility for the mass layoffs and left the Democratic Party./Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Choi Seok-jin] The decision on whether to detain Independent lawmaker Lee Sang-jik, who is accused of embezzlement and breach of trust involving hundreds of billions of won, will be made on the 27th.

Judge Kim Seung-gon, in charge of warrants at Jeonju District Court, will conduct the pre-arrest suspect interrogation (warrant substantive examination) for Lee from 2 p.m. that day.

On the 9th, the Criminal Division 3 of Jeonju District Prosecutors' Office (Chief Prosecutor Lim Il-soo) requested an arrest warrant for Lee on charges including embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, embezzlement in the course of business, and violation of the Political Parties Act.

The investigation team reported the intention to request an arrest warrant for Lee to the Supreme Prosecutors' Office in March, but temporarily withheld the request following the Supreme Prosecutors' Office's request to refrain from politically sensitive investigations ahead of the April 7 by-elections. The arrest warrant was requested immediately after the election.

Earlier, on the 21st, the National Assembly voted on the motion to consent to Lee's arrest, which passed with 206 votes in favor, 38 against, and 11 abstentions out of 255 total votes. This is the 15th time in history that a motion to consent to the arrest of a lawmaker has been passed in the National Assembly, and Lee is the second in the 21st National Assembly following Democratic Party lawmaker Jeong Jeong-soon.

The substantive examination of Lee's arrest warrant was originally scheduled for the previous day but was postponed by one day after the court approved Lee's side's request to delay the hearing to ensure the right to defense.

Lee, the founder of Eastar Jet, is accused of conspiring with his nephew A, who was indicted in custody for causing a loss of 44 billion won by selling about 5.2 million shares of Eastar Jet stock worth approximately 54 billion won, held by Eastar Jet group affiliates, to a specific affiliate within the group for about 10 billion won in December 2015.

He is also accused of partially participating in A's embezzlement crime involving the unauthorized use of 3.8 billion won from Eastar Jet affiliates' funds.

Lee is also charged with violating the Political Parties Act by operating party member councils and other offices before the 21st National Assembly election.

A, who was tried first, argued at the trial held on the 10th of last month, "As a practical worker at Eastar Jet, I just did as I was told, so I feel very wronged," claiming that his actions were under Lee's instructions.

A's lawyer also partially disclosed the indictment, stating, "According to the charges, Lee led the crime and gained economic benefits from it."

Additionally, Lee is charged with embezzling about 5.36 billion won from Eastar Jet and its affiliates between 2015 and 2019, using it for his elder brother's court deposit, his daughter's Porsche deposit, and his daughter's officetel rent.

In particular, Lee sparked controversy by explaining that the Porsche was recommended as a safe car for his daughter, who had a serious traffic accident in middle school, to ensure her safety.

The decision on Lee's detention is expected late in the afternoon or in the early hours of the 28th.

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