Prosecution Arrests Lawmaker Lee Sang-jik on Charges of Embezzlement and Breach of Trust Involving Hundreds of Billions... "Sufficient Evidence Presented at Warrant Review Stage"

Lee Sang-jik, a member of the Democratic Party of Korea, is entering the press conference room on the 24th at the National Assembly to express his position regarding the Eastar Jet incident. 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] Independent lawmaker Lee Sang-jik, who is accused of embezzlement and breach of trust involving hundreds of millions of won, has been detained.

On the 28th, Judge Kim Seung-gon, in charge of warrants at Jeonju District Court, issued an arrest warrant for Lee.

Judge Kim stated, "Considering the suspect's behavior during the investigation, there is a possibility of evidence tampering or witness intimidation," and added, "The suspect is in a position to exert influence over related parties, raising concerns about evidence destruction."

He also added, "Although there appears to be room for dispute regarding some issues such as the market price of stocks or the valuation of bonds, the evidence required at the arrest warrant review stage is sufficient."

Lee is the second lawmaker to be detained in the 21st National Assembly, following Democratic Party lawmaker Jeong Jeong-sun.

On the 9th, the Criminal Division 3 of Jeonju District Prosecutors' Office (Chief Prosecutor Lim Il-su) 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, and filed the warrant request immediately after the election.

Earlier, on the 21st, the National Assembly voted on a 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 the second time in the 21st National Assembly.

Lee's warrant hearing was originally scheduled for the 26th but was postponed by one day after the court approved Lee's request to delay the hearing to ensure his right to defense.

Lee, the founder of Eastar Jet, is accused of conspiring with his nephew A, who was previously indicted and detained for 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, causing a loss of 44 billion won.

He is also accused of partially participating in A's embezzlement 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 elections.

A, who was tried first, claimed 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," asserting 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 the money 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 suffered a serious traffic accident in middle school, to ensure her safety.

After securing Lee's custody, the prosecution is expected to complete the remaining investigation while he is detained and soon indict him.

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