Namuk "‘Cheonhwadongin No.1’ Shares, Lee Jae-myung Election Funds"

Nam "Considering primaries and presidential election... thinking only about election and retirement funds"
Lee Jae-myung recruits Kim Man-bae to win over 'close politician' Lee Kwang-chul and others

Lawyer Nam Wook is heading to the courtroom on the morning of the 25th at the Seoul Central District Court in Seocho-gu, Seoul, to attend the continuation of the first trial related to the Daejang-dong development project lobbying and preferential treatment allegations.
[Image source=Yonhap News]

[Asia Economy Reporter Heo Kyung-jun] Nam Wook, one of the ‘Daejang-dong developers,’ claimed that the purpose of the shares of Cheonhwa-dongin No. 1, a subsidiary of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), was to cover the election expenses of Lee Jae-myung, leader of the Democratic Party of Korea.

Nam, who appeared as a witness at the trial on charges of breach of trust related to the Daejang-dong development project held on the 25th at the Seoul Central District Court Criminal Division 22 (Presiding Judge Lee Jun-cheol), responded to a question from the lawyer of former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu, "Isn't it more accurate to view the shares allocated to Lee Jae-myung (then mayor) as ‘joint ownership’ rather than co-ownership or shared ownership?" Nam replied, "That is how I understand it."

Joint ownership (총유) is a legal term referring to one of the forms in which multiple people own a single object, representing the concept of collective ownership of an item.

When Yoo’s lawyer asked, "If it is joint ownership, there should be a purpose. Was Lee Jae-myung’s presidential election kept in mind?" Nam answered, "I understand that the presidential election was kept in mind. I heard that the governor election, presidential primary, presidential election, and retirement funds were considered."

When asked from whom he heard such things, Nam said, "Specifically, former Director Yoo Dong-gyu said it, and Kim Man-bae spoke about it indirectly."

Additionally, when the lawyer asked whether the ‘shares allocated to Lee Jae-myung’s side’ included not only former Director Yoo Dong-gyu, Jeong Jin-sang, chief political coordinator of the Democratic Party leader’s office, and former deputy director Kim Yong of the Democratic Research Institute, but also Lee Jae-myung himself, Nam replied, "That is how I understood it."

Yoo’s lawyer asked Nam, "In June 2014, you delivered political funds to Lee Jae-myung’s side, but shortly after, did you not resist when told to withdraw from the project?"

Nam replied, "When I faced an investigation, I understood that they wanted to exclude me from the project because they were worried that the election expenses I gave to Lee’s side would become an issue. So, I could not object."

Furthermore, Nam claimed that the reason for involving reporter Kim, who was active at the time of the Daejang-dong development project, was to lobby Lee (then mayor of Seongnam).

Yoo’s lawyer asked, "Did you think Kim could lobby on behalf of private developers because he had a close relationship with Mayor Lee Jae-myung?"

Nam answered, "I did not hear that Kim had a direct close relationship with Mayor Lee, but since Kim had close ties with other influential politicians who were close to Mayor Lee, I asked Kim to persuade the mayor through those people."

Nam added, "At that time, I heard from reporter Bae Mo (owner of Cheonhwa-dongin No. 7) that Kim was a native of Suwon, had many acquaintances there, and had been a reporter for a long time, so he had close relationships with related politicians."

When Yoo’s lawyer asked, "Who did you hear were politicians close to Kim and capable of influencing Mayor Lee Jae-myung?" Nam replied, "I heard it was former lawmaker Lee Kwang-jae, lawmaker Kim Tae-nyeon, and former lawmaker Lee Hwa-young," adding, "Kim said between 2011 and 2012 that he would directly persuade Mayor Lee through these three." However, Nam explained, "I did not confirm whether Kim actually carried out such activities."

Yoo’s lawyer also asked how roles were divided to deal with Lee’s aides, Seongnam City Hall, and Seongnam Urban Development Corporation executives and employees.

Nam said, "I heard from Assemblyman Choi Yoon-gil of the Saenuri Party at the time that he personally met and consulted with Yoo Dong-gyu, Kim Yong, and Jeong Jin-sang, though not with all of them."

Nam also reaffirmed his testimony that he delivered 200 million won to lawmaker Kim Tae-nyeon’s side. When Yoo’s lawyer asked about the meaning of the part in Jeong Young-hak’s 2013 recording where Nam said, ‘I need to collect the 160 million won I gave,’ Nam explained, "I understand that amount refers to the 200 million won delivered to lawmaker Kim Tae-nyeon’s side through an aide. The reason I said 160 million won is that Kim said he spent 40 million won separately."

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