Prosecutors Conduct Second Search of 'Dongbuk-A Peace Economy Association' in Connection with Ssangbangwool Allegations

Lee Hwa-young, CEO of Kintex (former Deputy Governor for Peace of Gyeonggi Province), who is accused of receiving bribes worth hundreds of millions of won from Ssangbangwool Group, is entering the Suwon District Prosecutors' Office building on the morning of the 27th of last month to attend the pre-arrest warrant hearing (pre-arrest suspect interrogation) held at the Suwon District Court in Yeongtong-gu, Suwon-si, Gyeonggi-do.
[Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] The prosecution investigating allegations of inter-Korean economic cooperation projects involving Ssangbangwool Group and former Gyeonggi Province Deputy Governor for Peace Lee Hwayoung has conducted another raid on the private organization established by Lee.

According to the legal community on the 12th, the Criminal Division 6 of Suwon District Prosecutors' Office (Chief Prosecutor Kim Youngnam) sent prosecutors and investigators to the office of the Northeast Asia Peace Economy Association in Yeongdeungpo-gu, Seoul, the previous day to secure related materials. This was to obtain additional materials following the raid conducted on the 6th.

The previous raid included the residence of Shin, former director of the Northeast Asia Peace Economy Association and former director of the Gyeonggi Province Peace Cooperation Bureau, as well as the office used by former Deputy Governor Lee.

The Northeast Asia Peace Economy Association is an organization founded by former Deputy Governor Lee in 2008. He served as chairman of this organization until his appointment as Deputy Governor for Peace of the province (August 2018 to January 2020). In October 2018, the organization held a 'North Korean Mineral Resources Development Forum' at the National Assembly together with the Korea Resources Corporation.

Earlier, the prosecution arrested former Deputy Governor Lee on the 28th of last month on charges of receiving bribes totaling about 250 million won, including corporate credit cards and three foreign cars from Ssangbangwool, in exchange for facilitating an inter-Korean economic cooperation project agreement between Ssangbangwool and the North in 2019.

The prosecution also found that former Deputy Governor Lee falsely registered his close aide as a Ssangbangwool employee to receive wages of about 90 million won. It is reported that they are investigating whether Lee received money or goods from companies through another close aide using a similar method.

Ssangbangwool Vice Chairman A, who is accused of giving bribes to former Deputy Governor Lee, was also arrested. The prosecution plans to indict former Deputy Governor Lee and A soon.

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