Prosecutors Conduct Third Investigation of Hwacheon Daeyu's Kim Man-bae... Probing Embezzlement and Lobbying Allegations

[Asia Economy Reporter Baek Kyunghwan] The prosecution, investigating allegations of preferential treatment and lobbying in the Daejang-dong development project, is summoning Kim Man-bae, the major shareholder of Hwacheon Daeyu, for the second consecutive day for questioning. This is the third investigation since his detention, and Kim's detention period expires on the 22nd.

On the 14th, the dedicated investigation team of the Seoul Central District Prosecutors' Office (led by Deputy Chief Prosecutor Kim Tae-hoon) summoned Kim, who is currently detained at Seoul Detention Center, to verify allegations of breach of trust and lobbying related to the Daejang-dong project.

Kim was detained on the 4th, but due to a COVID-19 outbreak within the investigation team, his questioning was delayed and only took place on the 8th. Furthermore, Kim did not respond to summons for two consecutive days citing health reasons, resulting in insufficient questioning.

The investigation team plans to strengthen the investigation on Nam Wook, the owner of Cheonhwadongin No. 4, who was detained along with Kim, and bring them to trial before the detention period expires on the 22nd.

Kim is accused of conspiring with lawyer Nam Wook, former Seongnam Urban Development Corporation director Yoo Dong-gyu, lawyer Jeong Min-yong, former head of the corporation's strategic business team, and accountant Jeong Young-hak, owner of Cheonhwadongin No. 5, to channel profits from the Daejang-dong development project to Hwacheon Daeyu, causing losses to the corporation. He is also suspected of bribing and lobbying influential political and business figures, including former director Yoo, to receive preferential treatment for Hwacheon Daeyu's development project.

Meanwhile, the investigation team may soon summon former independent lawmaker Kwak Sang-do, whose resignation was approved by the National Assembly.

Kwak's son, Byung-chae, was already questioned twice last month as an accomplice in Kwak's bribery charges. Byung-chae joined Hwacheon Daeyu in June 2015 and resigned between March and April this year, receiving 5 billion won as severance pay and bonuses. The investigation team believes that after Kwak helped Hwacheon Daeyu, he demanded 5 billion won from Kim following profits from the Daejang-dong development project and received it through his son.

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