'5 Billion Controversy' Kwak Sang-do's Son: "Large Bonus Proposed by Company First... Not a Bribe"

"After resigning, I lived in seclusion due to poor health"

Independent lawmaker Kwak Sang-do, who left the People Power Party. [Image source=Yonhap News]

[Asia Economy Reporter Yoon Seul-gi] Gwak Byeong-chae, son of independent lawmaker Gwak Sang-do (formerly of the People Power Party), revealed that he was first given a 5 billion won performance bonus by Hwacheon Daeyu Asset Management.

In an interview with JTBC's 'Newsroom' on the 1st, Gwak said in response to the question, "Who proposed the contract change that allowed you to receive such a large sum?" that "I was in poor health and informed the company of my intention to resign," adding, "(The company) said they would make changes related to the performance bonus."

When asked about the criticism that the payment was essentially a bribe, he said, "That is not true at all," and regarding the controversy over whether he received money beyond the 5 billion won, he explained, "I only received that salary and worked at the company."

Regarding the process by which his father introduced him to the job, Gwak said, "I don't really know," and added, "My father never told me how the process went." When asked about the duties he performed at Hwacheon Daeyu, he refused to answer, saying, "I don't think it's appropriate for me to discuss that here."

Earlier, Hwacheon Daeyu stated that the reason for paying Gwak the large severance pay of 5 billion won was due to an 'industrial accident,' but Gwak was reserved about his current health condition, saying, "What I have shared on SNS is all there is." On the 26th of last month, he had explained on Gwak Sang-do's Facebook that "I started having health problems in 2018 and even collapsed at the company."

When asked whether activities like golf and camping after resignation affected his health, Gwak said, "I did not go every time. I did not play often," and added, "After resigning, my health deteriorated, and I have been mostly staying at home in seclusion. I am currently unable to do any other work."

Meanwhile, as controversy arose over the fact that the son who worked at Hwacheon Daeyu received a large severance pay, Gwak Sang-do, who left the People Power Party, announced that he will hold a press conference at the National Assembly at 10 a.m. on the 2nd. With this unusual weekend press conference scheduled, there is speculation that Gwak may announce his voluntary resignation.

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