Yeo: "Answer the suspicions of Yoon Seok-yeol protecting Jo Woo-hyung in the Daejang-dong illegal loan and poor investigation"

Ruling Party Hwacheondaeyu TF "Possibility of Lenient Investigation"
People Power Party "Ghosting Tactics"

Kim Byung-wook, Chairman of the Democratic Party of Korea's Hwacheon Daeyu Construction Corruption Investigation Task Force, is holding a press briefing related to Busan Savings Bank and Yoon Seok-yeol, the presidential candidate of the People Power Party, at the National Assembly on the 16th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jeon Jinyoung] The Democratic Party of Korea is continuously urging investigations into whether Yoon Seok-yeol, the presidential candidate of the People Power Party, is involved in the preferential treatment allegations related to the Daejang-dong development project. The Democratic Party's Hwacheon Daeyu Construction Corruption Fact-Finding Task Force (TF) held a press conference on the 16th, raising their voices toward candidate Yoon, demanding that he "respond to the allegations of protecting Jo Woo-hyung."

The TF alleges that the Daejang-dong development faction received illegal loan mediation through Jo, a relative of Park Yeon-ho, former chairman of Busan Savings Bank, and that Yoon, who was the lead prosecutor at the time, covered up the investigation into Jo. The previous day, Lee Jae-myung, the Democratic Party's presidential candidate, pressured the prosecution by emphasizing a thorough investigation into Yoon's alleged dereliction of duty and the so-called ‘50 Billion Club’.

On this day, TF member Kim Seung-won stated, "Candidate Yoon claims that Jo was merely a person who delivered money to senior bank officials and thus was not subject to indictment, but this explanation appears to be false."

TF leader Kim Byung-wook presented the indictment against Jo, prepared by the Suwon District Prosecutors' Office in 2015, as new evidence. Kim said, "The indictment mentions three major cases: illegal mediation of loans amounting to 1.03 billion KRW related to Daejang-dong (charge of bribery for mediation), mediation of a 1.015 billion KRW loan in Mangpo-dong, Suwon City (charge of bribery for mediation), and breach of trust involving 7 billion KRW related to Pung-dong, Goyang City (charge of breach of trust)." He added, "All these incidents occurred before May 1, 2011, when Yoon's prosecution indicted the savings bank case." Kim raised his voice toward candidate Yoon, saying, "If there was a lenient investigation, he must be held accountable. If the prosecution starts reinvestigation now, actively cooperate."

Candidate Lee also raised the possibility of involvement by Yoon and other People Power Party figures during the Central Election Committee meeting the previous day, urging, "(The prosecution) why are you not investigating? Please conduct it more swiftly, strictly, and properly." The Democratic Party's position is that if a special prosecutor is to be introduced regarding the Daejang-dong allegations, the investigation should include not only candidate Lee but also candidate Yoon, including suspicions of inadequate investigation into Busan Savings Bank.

However, the People Power Party dismisses this as a kind of ‘muddying the waters’ tactic. On the previous day, Jeon Ju-hye, the party's floor spokesperson, sharply criticized Lee's pressure on the prosecution, saying, "Outwardly, they lie as if they will accept the special prosecutor, while negotiating with the People Power Party to buy time with tricks."

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