Police Summon Lee Han-sung, CEO of Cheonhwa Dongin 1, for Investigation as a Suspect

Lee Han-sung, CEO of Cheonhwa Dongin No. 1, is entering the Gyeonggi Southern Provincial Police Agency on the afternoon of the 8th to be investigated as a suspect.
[Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-joo] The police investigating the preferential treatment allegations in the Daejang-dong development project in Seongnam, Gyeonggi Province, summoned Lee Han-seong, CEO of Cheonhwa-dongin No. 1, a subsidiary of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), on the 8th.

Lee appeared at the dedicated investigation team of the Gyeonggi Southern Provincial Police Agency around 1 p.m. on the same day as a suspect. Before the investigation, he told reporters that the allegation that the dividends were used as political donations "does not make sense."

However, he remained silent about his role in the Daejang-dong development project and the rumored 70 billion won agreement involving former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu.

Regarding the townhouse in Bundang-gu, Seongnam City, which Cheonhwa-dongin No. 1 purchased for 6.2 billion won in October 2019, he said, "I signed the contract myself." Previously, Kim Man-bae, the largest shareholder of Hwacheon Daeyu, had stated to the media that the purpose of the house was as a model house.

The police are expected to verify the facts regarding the suspicious flow of funds of Hwacheon Daeyu and the overall preferential treatment allegations in the Daejang-dong development project with Lee. Kim and former Hwacheon Daeyu CEO Lee Seong-moon have already been questioned as witnesses by the police.

Cheonhwa-dongin invested 104.65 million won in the Daejang-dong development and received dividends of 120.8 billion won. It is a subsidiary wholly owned by Hwacheon Daeyu.

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