Kim Man-bae's Suicide Attempt... Daejang-dong Trial Also Postponed
Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, is entering the courtroom to attend the trial related to the lobbying and preferential treatment allegations in the Daejang-dong development project held on the 9th at the Seoul Central District Court. Photo by Heo Young-han younghan@
View original image[Asia Economy Reporter Kim Daehyun] Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), a key figure in the Daejang-dong development project corruption case, attempted an extreme act on the 14th and was transported to the hospital, leading to the postponement of related trials.
According to the court on the 15th, the Seoul Central District Court Criminal Division 22 (Chief Judge Lee Joon-cheol) decided to skip the hearings scheduled for the 16th and 19th regarding the Daejang-dong development preferential treatment suspicion case and hold the trial on the 23rd instead. The specific reason for the change was not disclosed, but it appears to be due to Kim’s difficulty attending the trial while undergoing treatment.
On the morning of the 14th, Kim self-harmed and was transferred around 9:50 PM the same day to the Regional Trauma Center at Ajou University Hospital in Suwon, Gyeonggi Province, following a report by his lawyer, where he received emergency treatment. Some speculate that Kim was under considerable pressure as the prosecution’s investigation targeting his assets accelerated.
On the same day, the Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors’ Office (Chief Prosecutor Eom Hee-jun) requested arrest warrants for Lee Han-seong, co-CEO of Hwacheon Daeyu, and Choi Woo-hyang, director of Hwacheon Daeyu and former vice chairman of Ssangbangwool Group, on charges of concealing criminal proceeds related to Kim.
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Kim is currently undergoing a first trial on charges including breach of trust under the Specific Economic Crimes Act, accused of conspiring with former Seongnam Urban Development Corporation Planning Director Yoo Dong-gyu, private businessman lawyer Nam Wook, and accountant Jung Young-hak to divert at least approximately 65.1 billion KRW in land development dividends and implementation profits to the private sector, causing losses to the corporation.
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