Jung Min-yong: "I heard the Daejang-dong project was designed and directed by Lee Jae-myung"

[Asia Economy Reporter Heo Kyung-jun] Testimony has emerged in court that Lee Jae-myung, leader of the Democratic Party of Korea, instructed and designed the Daejang-dong project.

At the trial held on the 20th under the jurisdiction of the Seoul Central District Court Criminal Division 22 (Chief Judge Lee Jun-cheol), Jeong Min-yong, former head of the Strategic Business Office at Seongnam Urban Development Corporation, stated, "Former Director Yoo Dong-gyu said that Mayor Lee designed and instructed the part where the corporation secured guaranteed profits from the Daejang-dong project."

He continued, "Former Director Yoo said that the instructions were not his own ideas but were given by (Representative Lee)," adding, "I’m not sure if I should say this, but (Former Director Yoo) also said something like, ‘Doesn’t Mayor Lee seem like a genius?’"

He also said, "I heard that the part where the corporation secured guaranteed profits was under Mayor Lee’s instructions and that he designed and planned all aspects, so when I was instructed by Former Director Yoo to acquire land for rental housing, I thought it was an order that had been discussed with (Representative Lee)."

The prosecution has indicted Kim Man-bae, major shareholder of Hwacheon Daeyu Asset Management, Nam Wook, Jeong Young-hak, and Jeong Min-yong on charges including breach of trust, judging that they conducted the project in a way that funneled profits to private businesses.

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