'Hwacheon Daeyu Major Shareholder' Kim Man-bae Appears Before Prosecutors... "Sincere Cooperation with Investigation" (2nd Report)
Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management and a key figure in the Daejang-dong development lobbying and preferential treatment allegations, is responding to reporters' questions while on his way to appear as a suspect at the Seoul Central District Prosecutors' Office in Seocho-gu, Seoul, on the 11th. Photo by Yoon Dong-ju doso7@
View original image[Asia Economy Reporter Seongpil Cho] Kim Man-bae, the major shareholder of Hwacheon Daeyu, appeared before the prosecution on the 11th as a suspect.
Kim appeared at the Seoul Central District Prosecutors' Office in Seocho-gu, Seoul, at around 9:45 a.m. to be investigated regarding the Daejang-dong development project allegations. To the waiting press, he said, "I am very sorry for causing a commotion," and "I will sincerely cooperate with the investigation." Kim claimed that he is the actual owner of Cheonhwa-dongin No. 1 but argued, "The various allegations raised are due to intentionally edited recordings." He added, "There has never been any illegal transaction of funds," and "If the prosecution thoroughly investigates the details of fund deposits and withdrawals, many of the current allegations will be resolved."
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The recordings Kim referred to were submitted by Jeong Young-hak, the owner of Cheonhwa-dongin No. 5 and an accountant, during a previous prosecution investigation. The recordings contained claims that Kim's side's lobbying funds reached 35 billion won and that tens of billions of won were handed over to Seongnam city council members and others. Kim's side has explained, "The contents of the recordings have been exaggerated regarding expected costs during the profit distribution process among investors and are not true." The Seoul Central District Prosecutors' Office's dedicated investigation team (led by Deputy Chief Prosecutor Kim Tae-hoon) is expected to focus on questioning Kim about these allegations of bribery involving political and business circles.
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