Court Grants Probation Again in 2nd Trial for Yoo Jae-su on 'Bribery' Charges, Reduced Sentence from 1st Trial

Former Busan Deputy Mayor for Economic Affairs Yoo Jae-su [Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] Yoo Jaesoo, former Deputy Mayor for Economic Affairs of Busan City, who was prosecuted for accepting bribes from related companies while serving at the Financial Services Commission, was sentenced to a suspended prison term in the appellate court as well. However, some charges, such as cash received under the pretext of book payments, were acquitted, resulting in a slightly reduced sentence compared to the first trial.

At 10:15 a.m. on the 5th, the Seoul High Court Criminal Division 1-1 (Presiding Judge Lee Seungryeon) sentenced former Deputy Mayor Yoo to one year in prison with a two-year suspension and a fine of 50 million KRW. A confiscation order of approximately 21.08 million KRW was also issued.

The court pointed out, "The defendant, as a senior official of the Financial Services Commission, received substantial financial benefits over a considerable period from operators of financial investment companies and credit information companies under the comprehensive management and supervision of the FSC, which is a serious offense, and he proposed a significant part of the crime first." However, it added, "Considering the relationship with the providers, the form and amount of the benefits, it appears that the crime was not committed with a strong awareness of illegality," and "He has no prior criminal record and is currently in poor health after undergoing stomach cancer surgery," explaining the reasons for sentencing.

Initially, the prosecution requested the court to sentence former Deputy Mayor Yoo to five years in prison. At the last closing argument, the prosecutor emphasized that the entertainment and sponsorship between senior FSC officials, called 'Mofia,' and financial institution employees were similar to the case involving former Deputy Minister of Justice Kim Hak-ui, who was suspected of collusion with businessmen. On the other hand, Yoo’s defense argued that "considering the close personal relationships with the providers, the job relevance and quid pro quo are not recognized."

Former Deputy Mayor Yoo was prosecuted in December 2019 on charges of bribery, post-bribery misconduct, and violation of the Improper Solicitation and Graft Act for receiving bribes worth about 40 million KRW, including apartment payments and book costs, from four financial industry workers from August 2010 to November 2018 while serving as the Policy Director at the FSC.

In the first trial, Yoo was sentenced to one year and six months in prison with a three-year suspension and fined 90 million KRW. A confiscation order of 42.21 million KRW was also issued. At that time, the court recognized both job relevance and quid pro quo for Yoo’s bribery charges but acquitted him of post-bribery misconduct.

Meanwhile, former Minister of Justice Cho Kuk, former Blue House Civil Affairs Secretary Baek Wonwoo, and former Anti-Corruption Secretary Park Hyungcheol are currently undergoing first trial proceedings after being prosecuted for abuse of authority and obstruction of the exercise of rights for covering up Yoo’s misconduct allegations.

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