Prosecutors Summon Former CEO of Initial Developer in Daejangdong Project for Investigation

[Asia Economy Reporter Bae Kyunghwan] The prosecution investigating allegations of preferential treatment and lobbying in the Daejang-dong development project in Seongnam City has summoned and is questioning Mr. Lee, the former CEO of 'C7', the initial developer of the Daejang-dong project.

On the 19th, the dedicated investigation team of the Seoul Central District Prosecutors' Office (Team Leader Kim Tae-hoon, 4th Deputy Prosecutor) summoned Mr. Lee in the afternoon as a witness.

Mr. Lee was the CEO of the real estate development company C7 in 2008 and promoted the private development of Daejang-dong in 2009. However, when Lee Jae-myung, then mayor of Seongnam City, took office in 2010, he changed the Daejang-dong development to a Seongnam City-led public development, transferring management rights to accountant Jung Young-hak and others, and withdrew from the project.

During Mr. Lee's tenure, C7 is suspected of lobbying to prevent the Daejang-dong development project, which Seongnam City had been promoting since 2005, from proceeding as a public development.

Meanwhile, the investigation team plans to proceed with supplementary investigations during the remaining period and indict Kim Man-bae, the major shareholder of Hwacheon Daeyu, and lawyer Nam Wook.

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