'Kim Man-bae, Involved in Daejang-dong Development Favoritism and Lobbying, Temporarily Released Due to Mother's Death'

Court Grants 'Suspension of Detention Execution' Until 4 PM on the 16th
Residence Restricted to Home, Funeral Hall, and Burial Site

Kim Man-bae, the major shareholder of Hwacheon Daeyu involved in the Daejang-dong scandal, is attending the warrant hearing held at the Seoul Central District Court in Seocho-gu, Seoul, last November. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Heo Kyung-jun] Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), who is currently detained and undergoing first trial for involvement in the Daejang-dong development project preferential treatment and lobbying case, will be temporarily released for his mother's funeral.

The Seoul Central District Court Criminal Division 22 (Presiding Judge Lee Jun-cheol) suspended Kim's detention until 4 p.m. on the 16th. However, the court restricted Kim's residence to his home, his mother's funeral hall, and the burial site.

The suspension of detention execution is a system that temporarily releases a defendant with residence restrictions when there are serious reasons such as severe illness, childbirth, or attendance at a funeral. The decision takes effect immediately.

The trial on the Daejang-dong development project lobbying and preferential treatment allegations has been held once or twice a week since January, with most of the evidence investigation procedures completed and witness examinations of the defendants currently underway.

Kim's lawyer stated at the 'Daejang-dong allegations' trial held that day, "We plan to apply for suspension of detention execution because his mother is in critical condition."

Kim was indicted while detained on charges of pushing at least 65.1 billion KRW in land development dividend profits and at least 117.6 billion KRW in implementation profits to Hwacheon Daeyu while promoting the Daejang-dong development project with lawyer Nam Wook, causing losses to Seongnam Urban Development Corporation.

He is also accused of providing 5 billion KRW (2.5 billion KRW excluding tax) in severance pay and other names through the son of former National Assembly member Kwak Sang-do in exchange for business assistance.

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