Evidence of Kim Man-bae Discussing Acquisition Plan for Yoo Dong-gyu's Dasima Company in 'Daejang-dong' Transcript

Kim Man-bae (left), the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), Nam Wook, lawyer and owner of Hwacheon Daeyu subsidiary Cheonhwa Dongin No. 4, and Jung Young-hak, accountant and owner of Cheonhwa Dongin No. 5 / Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kim Daehyun] In the core evidence of the 'Daejang-dong Development Special Favoritism Suspicion' case, the recording file of accountant Jeong Young-hak revealed circumstances where Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), discussed a business profit distribution plan involving former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu establishing a 'Dasima Fertilizer Company' and then acquiring it. Conversations suspected to show Kim and others conducting all-out lobbying targeting public officials and city council members were also disclosed.

On the 9th, the 22nd Criminal Division of the Seoul Central District Court (Chief Judge Lee Joon-cheol) held the 28th trial for five defendants: Kim, accountant Jeong, former director Yoo, lawyer Nam Wook, owner of Hwacheon Daeyu subsidiary Cheonhwa Dongin No. 4, and lawyer Jeong Min-yong.

On this day, the prosecution played a recording file in court of a conversation between accountant Jeong and Kim in July 2020. The prosecution explained that the recording contained Kim stating he would pay 5 billion won to Deputy Manager Lee of Hana Bank regarding the formation of the Seongnam Eutteul consortium, and expressing being overwhelmed by entertaining public officials and city council members.

The recording reportedly included Kim saying, "I am so exhausted trying to stop Daejang-dong," and "It costs a lot of money and is invisible," while accountant Jeong responded, "You worked hard. I didn't see you get in quickly," emphasizing, "Your position is a difficult one, brother."

A recording of a conversation between accountant Jeong and Kim from October last year was also played. The prosecution stated that a method of profit distribution in Daejang-dong was discussed, where former director Yoo would establish a 'Dasima company,' which Kim would then acquire. Methods such as Kim paying dividends and gifts or investing in Yoo's company were also mentioned.

In the recording, Kim said, "Yoo Dong-gyu wants to escape and do business," and in response to accountant Jeong's question, "How will the money be given?" Kim replied, "He said he will set up a company importing Dasima fertilizer from China," and "But he told me to buy that company," according to the understanding.

The transcript of accountant Jeong submitted during the prosecution's investigation is considered key evidence in the Daejang-dong case. It reportedly contains content of disputes between Jeong and Kim over shared expenses and promises to pay hundreds of billions of won in dividend profits to former director Yoo. Meanwhile, Kim and others have questioned the evidentiary validity, suggesting the recordings may have been manipulated or that files different from the originals were submitted.

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