Prosecutors Raid Kim Yong's Democratic Research Institute Over Billions in Bribes... Ongoing Confrontation

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] The prosecution has conducted a search and seizure at the Minjoo Research Institute, where Kim Yong, deputy director of the Minjoo Research Institute and a close aide to Lee Jae-myung, leader of the Democratic Party of Korea, worked, in connection with the ‘Wirye New Town development allegations’.

The Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baek-shin) sent about 10 prosecutors and investigators to the Minjoo Research Institute located at the Democratic Party’s central office in Yeouido, Seoul, on the afternoon of the 19th to secure materials. It is reported that the Democratic Party is resisting this, leading to a standoff.

Earlier that day, the investigation team arrested Deputy Director Kim and conducted a search and seizure at his residence and other locations.

Deputy Director Kim is suspected of receiving several hundred million won in bribes from former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu and private developers involved in the Wirye development project (violation of the Political Funds Act). At the time, he was a Seongnam city council member. The prosecution reportedly obtained testimony during the investigation of former Director Yoo and others that money was handed over to Deputy Director Kim, and secured an arrest warrant from the court.

Deputy Director Kim, along with Jeong Jin-sang, chief of political coordination at the Democratic Party leader’s office, is considered a close aide to Leader Lee. When allegations surrounding the Daejang-dong development surfaced last year, Leader Lee himself mentioned the two, saying, “If they are close aides, it should be Jeong Jin-sang and Kim Yong.”

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