Court Orders Seizure and Preservation of Jeong Jin-sang's Assets Worth Over 200 Million Won

[Asia Economy Reporter Gong Byung-sun] The court has frozen the assets of Jeong Jin-sang (55), former Chief of Political Coordination in the office of Lee Jae-myung, leader of the Democratic Party of Korea.

According to the legal community on the 3rd, the Seoul Central District Court Criminal Division 23 (Presiding Judge Jo Byung-gu) partially accepted the prosecution's request for seizure preservation on about 240 million KRW of Jeong's assets on the 20th of last month. Seizure preservation is a procedure that prohibits the disposal of suspected proceeds from a crime until the defendant's guilt is confirmed.

Following the court's decision on the 26th of last month, the prosecution applied for provisional seizure enforcement on an apartment registered under Jeong's name.

Jeong served as Seongnam City Policy Secretary and Gyeonggi Province Policy Director from February 2013 to October 2020, and is classified as a close aide to Lee. He is accused of receiving bribes totaling about 240 million KRW in seven installments from Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation, in exchange for facilitating various projects (bribery under the Special Act on Criminal Cases).

Additionally, he is charged with agreeing to share 24.5% of common stock worth 42.8 billion KRW held by private investors including Kim Man-bae as a reward for preferential treatment in the Daejang-dong project (bribery after improper conduct), and with leaking internal information to private investors during the Wirye New Town development project from July 2013 to January 2018, resulting in profits of about 21 billion KRW (violation of the Anti-Corruption Act).

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