Prosecutors Request Arrest Warrant for Former KDB President Min Yuseong over 'Shindongju Illegal Advisory'

Court to Review Warrant on the 14th

Min Yuseong, Former President of the Korea Development Bank

[Asia Economy Reporter Kim Daehyun] The prosecution has requested an arrest warrant for former Korea Development Bank (KDB) President Min Yuseong (68) on charges of providing illegal legal advice related to the Lotte Group management rights dispute.

On the afternoon of the 12th, the Criminal Division 5 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Choi Wooyoung) announced that it had requested a pre-arrest warrant for former President Min the previous day on charges of violating the Attorney-at-Law Act.

According to the prosecution, former President Min is accused of receiving approximately 19.8 billion KRW in exchange for performing various legal tasks without a lawyer’s license from October 2015 to August 2017 during the Lotte Group 'Brotherly War,' to help Shin Dongju, Chairman of SDJ Corporation (former Vice Chairman of Lotte Holdings Japan), secure management rights.

After serving as KDB President from 2009 to 2011, Min became chairman of the management consulting firm Namukopeu. He is reported to have planned criminal and administrative cases related to Lotte Group, selected lawyers, overseen various lawsuits, and collected evidence materials.

Furthermore, the prosecution believes he submitted related opinion letters, planned statements by agents and witnesses, and worked on shaping public opinion. He allegedly provided legal support aimed at the court imprisonment or guilty verdict of Shin Dongbin, Chairman of Lotte Group and younger brother of Shin Dongju, as well as the failure to reacquire the Lotte Shopping duty-free license.

This was revealed during the civil lawsuit process in which former President Min sued Shin Dongju for 10.7 billion KRW in advisory fees. The first trial ruled in favor of Min’s side, ordering SDJ to pay 7.5 billion KRW to Namukopeu. However, the second trial and the Supreme Court ruled the contract null and void due to violation of the Attorney-at-Law Act, resulting in a loss.

Subsequently, the Lotte Group labor union filed a complaint with the prosecution in June 2019 accusing former President Min of violating the Attorney-at-Law Act, which triggered the prosecution’s investigation.

The pre-arrest detention hearing for former President Min will be held on the afternoon of the 14th at the Seoul Central District Court, presided over by Judge Kim Seyong, who is in charge of arrest warrants. The decision on detention is expected to be made that evening or early the next morning.

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