Yongsan Police Chief Reported Internal Investigation on 'Hwacheon Daeyu' in July
[Asia Economy Reporter Lee Gwan-joo] It has been confirmed that the chief of the Yongsan Police Station in Seoul received a report in July regarding the progress of an internal investigation related to preferential treatment allegations in the Daejang-dong development project in Seongnam, Gyeonggi Province.
According to materials submitted to Park Wan-soo, a member of the National Assembly's Public Administration and Security Committee from the People Power Party, by the National Police Agency on the 6th, the Yongsan Police Station chief was reported on July 20th this year about the progress of the pre-indictment investigation (internal investigation) into Hwacheon Daeyu Asset Management (Hwacheon Daeyu), the asset management company involved in the Daejang-dong development project.
The Financial Intelligence Unit (FIU) of the Financial Services Commission delivered information to the National Police Agency in April regarding suspicious fund flows related to Hwacheon Daeyu, and the police handed this over to the Yongsan Police Station to conduct an internal investigation.
As suspicions related to Hwacheon Daeyu grew, the National Investigation Headquarters of the National Police Agency merged the case received from the FIU on the 28th of last month with other reports concerning preferential treatment allegations in the Daejang-dong development project and the 5 billion KRW retirement payment received by the son of Assemblyman Kwak Sang-do, ordering the Gyeonggi Nambu Police Agency to investigate.
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During the National Police Agency audit held the day before, lawmakers from both ruling and opposition parties criticized the police for having conducted an internal investigation for five months without significant progress. National Police Chief Kim Chang-ryong stated, "The initial judgment was wrong," and added, "I deeply regret that we were not proactive enough in analyzing the FIU data."
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