Failed to Re-Summon Former Special Prosecutor Park Young-soo Over '5 Billion Club' Allegations... Schedule Being Coordinated

Former Special Prosecutor Park Young-soo

[Asia Economy Reporter Choi Dae-yeol] The prosecution investigating allegations of preferential treatment in the Daejang-dong development project planned to summon former special prosecutor Park Young-soo for questioning again on the 29th, but it was postponed due to Park's personal circumstances. The prosecution is currently rescheduling.

According to legal circles, the dedicated investigation team of the Seoul Central District Prosecutors' Office intended to summon former special prosecutor Park in the afternoon to investigate the '50 Billion Club' allegations and his involvement in the Daejang-dong development project. This re-summoning attracted attention as it came about a month after the previous summons on the 26th of last month, but Park did not appear due to personal reasons, and the re-summoning schedule is being adjusted.

The '50 Billion Club' allegations refer to a list of high-ranking political and government officials who allegedly received or were promised 5 billion KRW from Hwacheon Daeyu, the main entity behind the Daejang-dong development project. The prosecution is reportedly examining the overall allegations raised so far, including the relationship with Kim Man-bae, the major shareholder of Hwacheon Daeyu, and Park's role during the 2011 Busan Savings Bank case investigation. After Hwacheon Daeyu was established in 2015, former special prosecutor Park served as an advisory lawyer, receiving an annual advisory fee of 200 million KRW. His daughter also worked as an employee at Hwacheon Daeyu for several years before resigning. Allegations of preferential treatment arose when it was revealed that she purchased an apartment owned by the company at a price below market value.

This is also related to allegations of a lax investigation by the Supreme Prosecutors' Office's Central Investigation Department into the Busan Savings Bank case in 2011. At that time, the Central Investigation Department investigated illegal loan cases and tracked accounts of brokers who arranged loans worth around 100 billion KRW but only conducted witness interviews without prosecuting them. The broker's lawyer at the time was former special prosecutor Park, and the lead prosecutor in charge of the investigation was Yoon Seok-youl, the presidential candidate of the People Power Party.

Previously, Park Soo-young, a member of the People Power Party, disclosed the '50 Billion Club' list, including former special prosecutor Park, as targets of lobbying related to Daejang-dong. Park has reportedly denied all related allegations. Last month, the prosecution summoned and investigated former lawmaker Kwak Sang-do, Money Today chairman Hong Seon-geun, and former special prosecutor Park. On the 30th, Kim Jung-tae, chairman of Hana Financial Group, is scheduled to be summoned for questioning as a witness.

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