Former Ssangbangwool Chairman Kim Sung-tae Rumored to Be Staying in Thailand... Holding Out Before the 'Statute of Limitations'?

[Asia Economy Reporter Kim Hyung-min] Former Ssangbangwool Chairman Kim Sung-tae, who has come under prosecution investigation for embezzlement and breach of trust within the Ssangbangwool Group, is reportedly hiding in Thailand, drawing public attention.

According to combined reports and tips gathered by this outlet on the 23rd, Kim moved from Singapore to Thailand earlier this month. The prosecution obtained an arrest warrant for Kim from the Suwon District Court in mid-month and is currently working to secure his custody. If Kim continues to evade investigation, the prosecution plans to request a red notice from Interpol. They are also considering passport invalidation through the Ministry of Foreign Affairs. A prosecution official said regarding Kim’s alleged stay in Thailand, "Since this is an ongoing investigation, it is difficult to provide a response," without fully denying the claim.

If the report of Kim’s stay in Thailand is true, it appears likely that he will continue to change hideouts and evade capture. Legal circles view this as a "stalling strategy" aimed at the expiration of the statute of limitations for the case. The statute of limitations for the bribery allegation involving Lee Jae-myung, a member of the Democratic Party of Korea, expires on the 9th of next month. This case is suspected to be deeply connected to Kim’s Ssangbangwool Group embezzlement and breach of trust case. The prosecution even formed a joint task force by combining the Criminal Division 6 and the Public Investigation Division, which are handling the two cases respectively, but only 17 days remain to clarify the connection between the two cases, making the situation urgent.

Kim is identified as a "key man" who can reveal the connection between the two cases, and the prosecution is trying to secure his custody. It is suspected that Kim fled overseas after receiving confidential investigation materials from an investigator in the Criminal Division 6 of the Suwon District Prosecutors’ Office. The confidential investigation materials disappeared from the Criminal Division 6 at the end of May, and Kim departed for Singapore in early June. Lawyers were involved in the transfer process. These lawyers belong to the law firm of Lee Tae-hyung, who was part of the defense team for Lee’s ‘Public Official Election Act Violation’ case. This is a point where the connection between the Ssangbangwool embezzlement and breach of trust case and the bribery allegation involving lawyers’ fees is suspected. On the 7th of last month, the Public Investigation Division raided the law firm office where Lee Tae-hyung belongs in relation to the bribery allegation involving lawyers’ fees, uncovering the leak of confidential investigation materials created by the Criminal Division 6. The case of the confidential investigation leak is currently being investigated by the Criminal Division 1 of the Suwon District Prosecutors’ Office. On the 21st, the Criminal Division 1 booked lawyer A, who was storing the confidential investigation materials in his office, without detention.

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