'Daechang-dong' Yudonggyu's First Trial Postponed from November 10 to 24

Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation [Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] The first trial of Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation and one of the key figures in the Daejang-dong development preferential treatment and lobbying allegations case, has been postponed.

According to the court on the 9th, the Seoul Central District Court Criminal Division 22 (Chief Judge Yang Cheol-han) changed the first trial date for Yoo’s bribery and promise to receive money after wrongful acts charges under the Act on the Aggravated Punishment of Specific Crimes, originally scheduled for the 10th, to the 24th.

The day before, the Seoul Central District Prosecutors’ Office Special Investigation Team (Team Leader Kim Tae-hoon, 4th Deputy Prosecutor) submitted a request to the court to postpone Yoo’s first trial date. The main reason was preparation for the trial following additional indictment on breach of trust charges, and it is believed that a COVID-19 case within the investigation team also influenced the decision.

Previously, the prosecution had arrested and indicted Yoo on charges of receiving 352 million KRW multiple times from the Daejang-dong development company as compensation for providing business conveniences while serving as the Planning and Management Director of Seongnam Facilities Management Corporation in 2013.

Yoo was also indicted on charges of promising to receive 70 billion KRW (42.8 billion KRW after tax deduction) after engaging in wrongful acts favoring Hwacheon Daeyu while serving as Planning Director of Seongnam Urban Development Corporation from 2014 to 2015.

The additional indictment case against Yoo (breach of trust charges) was assigned to the same court division, but since no trial date has been set yet, the possibility of consolidating the trials on bribery and other charges on the first trial day may be discussed. The prosecution believes Yoo conspired with Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, to channel at least 65.1 billion KRW worth of benefits to Hwacheon Daeyu, causing losses to the corporation. Additionally, the prosecution’s view is that Yoo received a bribe of 50 million KRW from Kim around January 31 of this year as compensation for this.

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