Key Figure in Daejang-dong 'Yoo Dong-gyu'... Facing Imprisonment on Charges of Breach of Trust and Bribery

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] The decision on whether to detain Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation, known for designing the Daejang-dong development plan in Seongnam, Gyeonggi Province, will be made on the 3rd.

Judge Lee Dong-hee of the Seoul Central District Court will conduct a suspect interrogation of former Director Yoo at 2 p.m. that day.

The day before, the dedicated investigation team of the Seoul Central District Prosecutors' Office filed an arrest warrant against former Director Yoo on charges of breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes and bribery under the same law.

Former Director Yoo is considered a key figure who designed the Daejang-dong development project as a public-private joint development from 2010, when Gyeonggi Governor Lee Jae-myung was elected mayor of Seongnam, and led the selection of Hwacheon Daeyu as the private business operator. In particular, he is suspected of giving preferential treatment to Hwacheon Daeyu by designing the shareholder composition and profit distribution method of 'Seongnam's Garden,' which was responsible for implementing the Daejang-dong development project. The prosecution has already completed searches of former Director Yoo's past office and residence. Additionally, the prosecution suspects that former Director Yoo received 1.1 billion KRW from Hwacheon Daeyu as compensation and shared the profits.

However, former Director Yoo claims that he did not intentionally design the profit distribution structure to favor Hwacheon Daeyu, and that the 1.1 billion KRW was borrowed with a promissory note for business funds and divorce alimony.

Meanwhile, on the morning of the 1st, the investigation team executed an arrest warrant for former Director Yoo at a hospital. The team reportedly obtained the arrest warrant from the court at around 9:26 a.m., fearing that former Director Yoo might refuse to appear due to health issues, and immediately secured his custody. Former Director Yoo was originally scheduled to appear at the prosecutors' office at 10 a.m. but visited the emergency room after complaining of acute abdominal pain in the early morning.

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