Prosecutors Issue Arrest Warrant for Nam Wook in 'Gwak Sang-do Political Funds' Case... Additional Charges Expected

Nam Wook, a key figure in the Daejang-dong development preferential treatment allegations, is attending the warrant hearing held at the Seoul Central District Court in Seocho-gu, Seoul on the 3rd. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Kim Hyung-min] An arrest warrant has been issued for Nam Wook (50, detained and indicted), the owner of Cheonhwa Dongin No. 4, who is accused of giving 50 million won in political funds to former lawmaker Kwak Sang-do (63, detained) during the Daejang-dong development project.

According to the legal community on the 10th, the dedicated investigation team of the Seoul Central District Prosecutors' Office (led by Deputy Chief Prosecutor Kim Tae-hoon) recently obtained an arrest warrant for lawyer Nam, who is suspected of violating the Political Funds Act.

The prosecution reportedly sought to summon Nam to further investigate the nature of the political funds he gave to former lawmaker Kwak, but when he did not comply, they obtained an arrest warrant. The prosecution is expected to secure Nam’s custody at the detention center, investigate him, and then file additional charges together when bringing former lawmaker Kwak to trial.

The prosecution believes that Nam gave 50 million won in illegal political funds to former lawmaker Kwak around the time of the 20th general election in April 2016. Nam is currently on trial after being detained and indicted last year on charges including breach of trust alongside former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu and Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu).

Regarding the 50 million won, former lawmaker Kwak claimed it was a legitimate lawyer’s fee, but the prosecution views it as illegal funds, considering that Kwak did not sign a lawyer engagement contract.

Former lawmaker Kwak’s detention period expires on the 13th. The prosecution is expected to extend the detention period once soon, conduct supplementary investigations, and indict him around the expiration of the second detention period on the 23rd.

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