'Special Favor Pressure' Kang Man-soo, Former Korea Development Bank President, to Be Released on Parole on the 13th
[Asia Economy Reporter Kim Hyung-min] Kang Man-soo, former president of the Korea Development Bank, who was sentenced to prison for allegations including exerting external pressure to have an acquaintance's company selected as a national project contractor, will be released on parole in celebration of Liberation Day.
According to the legal community on the 11th, the Ministry of Justice Parole Review Committee approved Kang's parole during the review held on the 9th.
In December 2009, when Kang was the economic special advisor to President Lee Myung-bak and chairman of the National Competitiveness Enhancement Committee, he was prosecuted for pressuring the Ministry of Knowledge Economy to select a bioethanol company operated by an acquaintance as a national project contractor, resulting in the company receiving government support funds amounting to 6.67 billion won.
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He is also accused of pressuring Nam Sang-tae, former president of Daewoo Shipbuilding & Marine Engineering, during his tenure as president of the Korea Development Bank from 2011 to 2012, to invest 4.4 billion won in the company. Kang was sentenced to 5 years and 2 months in prison by the Supreme Court in May 2018 and has been serving his sentence since then.
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