Kim Man-bae Received 1 Billion Won as Payment for 'Suppressing Report' During Journalist Days
Kim Man-bae, a key figure in the Daejang-dong development scandal and major shareholder of Hwacheon Daeyu Asset Management, reportedly received several hundred million won from a savings bank executive by threatening to report on gambling activities while working as a journalist.
![Kim Man-bae, major shareholder of Hwacheon Daeyu. <br>[Photo by Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2023031709250157390_1679012701.png)
According to the legal community on the 4th, Kim received a total of 1 billion won from Yoo, a former executive of Jeil Savings Bank, between around 2007-2008 and 2011.
Yoo, who was working at Jeil Savings Bank around the fall of 2007-2008, had gambled at Kangwon Land. At that time, Kim, who was working as a legal affairs reporter at Money Today, requested an interview, saying he was investigating gambling among social elites. Yoo reportedly expressed his willingness to pay Kim 50 million won in cash to stop the investigation.
Kim then demanded 200 million won, and Yoo eventually paid Kim 200 million won. It is known that Kim did not report the gambling incident afterward.
Additionally, around 2008-2009, when the former chairman of Jeil Savings Bank was being investigated by prosecutors for a loan corruption case, Kim reportedly received 200 million won by saying he would help resolve the case favorably by talking to the prosecutors.
After that, Kim was confirmed to have received an additional total of 1 billion won under the pretext of payment for acquiring a legal newspaper. However, Yoo was eventually arrested in April 2011 on charges of violating the Special Act on the Prevention of Illegal Activities, sentenced to 10 years in prison, and released in April 2021.
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After his release, Yoo contacted Kim’s lawyer and demanded 1 billion won, saying he had made a lot of money from Daejang-dong. Kim reportedly asked Yoo not to expose the fact that he had received money in the past and handed over 250 million won. Later, Kim gave an additional 30 million won in December last year. Yoo was indicted on the 24th of last month on charges of receiving 280 million won from Kim.
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