Composer Kim Hyung-seok "Severance Pay Unmanageable, Deputy Position Likely to Disappear"... Kwak Sang-do's Son 'Publicly Targets'

Assemblyman Kwak's Son Receives 5 Billion KRW Retirement Pay from 'Hwacheon Daeyu'
Lee Jae-myung Suspects "Bribery with Quid Pro Quo"

Composer Kim Hyung-seok.
Photo by SBS

[Asia Economy Reporter Na Ye-eun] Amid controversy over the fact that Gwak Sang-do, an independent (former People Power Party) lawmaker's son, received 5 billion KRW as severance pay from Hwacheon Daeyu Asset Management (Hwacheon Daeyu), composer Kim Hyung-seok indirectly criticized this.

On the 26th, Kim posted a brief message on his social media (SNS) saying, "The assistant manager position seems to be disappearing. Can't afford severance pay."

Kim is a composer who has participated in album productions for Lee Moon-sae, Lim Jae-beom, Shin Seung-hun, Park Jin-young, Sung Si-kyung, IU, and others, creating numerous hit songs. In 2017, he produced the presidential tribute song "Mr. President" for President Moon Jae-in, making him a prominent 'pro-Moon' figure in the entertainment industry.

On the 26th, composer Kim Hyung-seok posted a short message on his Twitter.
/Photo by Kim Hyung-seok on Twitter capture

Kim's remark is interpreted as a sarcastic comment on Gwak's son, who worked as an assistant manager at Hwacheon Daeyu and received 5 billion KRW as severance pay upon resignation.

According to political circles and Hwacheon Daeyu, Gwak's son received a monthly salary of approximately 2.3 to 3.8 million KRW before tax at Hwacheon Daeyu, and upon leaving, he received 5 billion KRW under the titles of performance bonus, consolation money, and severance pay. The actual amount received after tax was reported to be 2.8 billion KRW.

Lee Jae-myung, Governor of Gyeonggi Province and former mayor of Seongnam City during the Daejang-dong development project, pointed out that "The 5 billion KRW is suspected to be part of a bribe from the Park Geun-hye administration and the People Power Party in exchange for blocking Seongnam City's public development."

On the 26th, son Mr. Kwak released a statement through the Facebook of his father, Assemblyman Kwak.
Photo by Assemblyman Kwak's Facebook capture

As the controversy grew, Gwak's son posted a statement on Gwak's Facebook on the 26th, saying, "I am merely a pawn in a meticulously designed Squid Game."

He explained, "When I joined, Hwacheon Daeyu was already fully set up. Looking back, from the designer's perspective, I was a very faithful pawn," adding, "Once while driving, and another time at the company, I collapsed and was taken to the hospital by colleagues. I worked hard, was recognized, got injured, and earned a lot of money."

He further questioned, "Is the essence of the Daejang-dong incident a problem with the design that allowed billions to be made? Or is it an issue with an individual who worked hard within it?"

Meanwhile, Gwak Sang-do abruptly left the party on the 26th after media reports surfaced that his son received 5 billion KRW as severance pay from Hwacheon Daeyu, intensifying the controversy.

Hwacheon Daeyu stated in a phone interview with KBS, "The 5 billion KRW given to Gwak's son included severance pay and performance bonuses, but it was largely in the nature of industrial accident consolation money."

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