Prosecution Indicts Kim Yong for 'Illegal Presidential Election Funds'... Yoodonggyu and Namuk Also Indicted Without Detention

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] Kim Yong, Deputy Director of the Democratic Research Institute, who was arrested on charges of receiving illegal presidential election funds worth around 800 million KRW, was indicted on the afternoon of the 8th.

The Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baek-shin) indicted Deputy Director Kim on charges of violating the Political Funds Act on the day his detention period expired. Co-conspirators Yoo Dong-gyu, former Head of Planning at Seongnam Urban Development Corporation, and lawyer Jeong Min-yong (former Head of Strategic Business at Seongnam Urban Development Corporation), as well as the provider lawyer Nam Wook, were also indicted together.

Deputy Director Kim is accused of conspiring with former Head Yoo and lawyer Jeong to receive illegal political funds totaling 847 million KRW from lawyer Nam in four installments between April and August last year, during the presidential election period.

The prosecution believes that in February last year, Deputy Director Kim requested about 2 billion KRW from former Head Yoo for Lee's presidential election funds, and lawyer Nam raised the money, which was then passed through lawyer Jeong and former Head Yoo to Deputy Director Kim.

The prosecution plans to continue investigating additional suspicions even after indicting Deputy Director Kim.

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