Yoon Dong-gyu Speaking Out and Kim Yong Detained... Prosecution's 'Lee Jae-myung Allegations' Investigation Enters New Phase

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 21st and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kim Hyung-min] Former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu has spoken out. His testimony became the spark that led to the arrest of Kim Yong, Deputy Director of the Minjoo Research Institute. The prosecution investigating allegations related to Lee Jae-myung, leader of the Democratic Party of Korea, has entered a new phase.

On the 22nd, Deputy Director Kim was arrested on charges of receiving illegal political funds amounting to over 800 million won during the last presidential election. Kim is considered a key close aide among Lee’s inner circle. Therefore, the prosecution is evaluated to have laid the groundwork to uncover allegations related to Lee. Kim is believed by the prosecution to have the best knowledge of the flow and use of funds, having worked in Lee’s presidential campaign and other related activities.

Deputy Director Kim is accused of conspiring with former Planning Director Yoo Dong-gyu and lawyer Jeong Min-yong (former head of strategic projects at Seongnam Urban Development Corporation) to receive illegal political funds totaling 847 million won in four installments from Nam Wook, a private developer lawyer involved in the Daejang-dong development, between April and August last year (violation of the Political Funds Act). The prosecution has identified that the final amount Kim received was 600 million won. The direction of the investigation is expected to focus on Lee depending on how much of the substance of this matter the prosecution uncovers through the arrested Deputy Director Kim. However, since Kim has assisted Lee closely for over ten years, it is also expected that he will not easily open up during the prosecution’s investigation, suggesting potential difficulties.

Former Planning Director Yoo Dong-gyu of Seongnam Urban Development Corporation, who is under suspicion of preferential treatment in the Daejang-dong development project, is attending a trial held at the Seoul Central District Court in Seocho-gu, Seoul on the 21st. Photo by Kang Jin-hyung aymsdream@

The fact that other close aides, including former Director Yoo, have begun to reveal details little by little is a variable. Yoo’s attitude in his testimony has recently changed, and with the high possibility of continuous explosive statements, there is speculation that Deputy Director Kim will also find it difficult to maintain silence.

Various interpretations have emerged regarding the background of former Director Yoo’s decisive testimony and change in stance. First, it is said that there was a change of heart after a confrontation investigation with his cohabiting partner conducted by the prosecution as needed before his detention period expired. Some say that Lee’s remarks, which could be interpreted as ‘cutting off tails,’ had a significant impact. During last year’s presidential election, when Lee stated that he did not know the late Kim Moon-gi, head of the Development Division 1 at the corporation, Yoo reportedly expressed resentment to those around him. Until then, Yoo had kept silent, saying he would uphold ‘loyalty,’ but this incident may have caused a change in his feelings.

On the 21st, former Director Yoo told reporters, “There is no such thing as loyalty in this world. I think I have been mistaken until now,” expressing regret. He also said, “Everything will come to the truth,” and added, “No matter how many layers an onion has, if you peel it, the core comes out.”

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