Court Orders Seizure of 600 Million Won from Kim Yong Suspected of Illegal Presidential Election Funds

Seoul Central District Court. / Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Daehyun] Former Deputy Director Kim Yong of the Democratic Research Institute has been prevented from disposing of 600 million won in assets suspected to have been received from lawyer Nam Wook and others involved in the 'Daejang-dong gang.'

According to the legal community on the 25th, the Seoul Central District Court Criminal Division 23 (Chief Judge Jo Byung-gu) recently accepted the Seoul Central District Prosecutors' Office investigation team's request for seizure preservation on 600 million won of former Deputy Director Kim's assets. Seizure preservation is the freezing of suspected proceeds obtained through crime until a guilty verdict is confirmed.

The prosecution applied for provisional seizure enforcement procedures on the 15th. The targets included real estate, automobiles, and bank account deposits owned by former Deputy Director Kim.

The court also froze the assets of former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu, lawyer Jeong Min-yong, and lawyer Nam.

Earlier, former Deputy Director Kim, a close aide to Lee Jae-myung, leader of the Democratic Party, was indicted on the 8th for allegedly conspiring with former Director Yoo and lawyer Jeong to receive 847 million won in four installments from lawyer Nam as election funds around the Democratic Party presidential primary from April to August last year (violation of the Political Funds Act).

The prosecution judged that the actual amount received by former Deputy Director Kim was 600 million won. Among the money handed over by lawyer Nam, 100 million won was used by former Director Yoo, and 147 million won was not delivered by former Director Yoo.

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