Law to Seize and Preserve 1 Billion Won of Lee Jeong-geun's Assets

Cannot Dispose of the Property Arbitrarily

Lee Jung-geun, former Deputy Secretary-General of the Democratic Party of Korea

[Asia Economy Reporter Choi Dae-yeol] Lee Jung-geun, former Deputy Secretary-General of the Democratic Party of Korea, has been prohibited from disposing of assets worth 1 billion KRW suspected to have been received from businessman Park Mo.

According to the legal community on the 22nd, the Criminal Division 27 of the Seoul Central District Court accepted the prosecution's request for seizure preservation on about 1 billion KRW of Lee's assets earlier this month. Seizure preservation is a procedure that freezes profits suspected to have been obtained through crime until the defendant's guilt is confirmed. Due to this measure, Lee cannot dispose of the relevant assets at his discretion.

The prosecution applied for provisional seizure enforcement on the 7th. The targets include small amounts of cash seized during the investigation and apartments owned by Lee.

Lee is accused of receiving 940 million KRW from Park over dozens of occasions from December 2019 to January this year under various pretexts of solicitation. He is also accused of receiving illegal political funds amounting to 303 million KRW for election expenses during the period of the 21st National Assembly election. It is reported that the total amount received was calculated as 1 billion KRW due to some overlapping funds.

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