Prosecutors Summon Former Woori Bank Vice President Over 'Park Young-soo 5 Billion Club Allegation'

The prosecution investigating former Special Prosecutor Park Young-soo's alleged involvement in the 'Daejang-dong 5 Billion Club' has summoned and is questioning a former vice president who oversaw real estate operations at Woori Bank at the time.

Prosecution Photo by Yonhap News

According to the legal community on the 11th, the Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Eom Hee-jun) called Yu Gu-hyun, former CEO of Woori Card, as a witness that morning.

Former CEO Yu served as head of the Real Estate Finance Business Division at Woori Bank, a vice president-level position, in 2014 when former Special Prosecutor Park chaired Woori Bank's outside board of directors. The prosecution reportedly questioned Yu about the circumstances under which Woori Bank chose not to participate in the Daejang-dong team's consortium but instead took part in project financing (PF) loans, and whether former Special Prosecutor Park exerted direct or indirect influence during this process.

The prosecution is investigating on the premise that former Special Prosecutor Park, while serving as chairman of Woori Bank's outside board, supported the consortium formation of the 'Daejang-dong team' and promised to receive land and commercial properties worth approximately 20 billion won from private contractors in exchange for soliciting PF loans.

Initially, Woori Bank considered joining the Seongnam Eutteul consortium of the Daejang-dong team but decided not to participate in March 2015, citing internal company regulations. Instead, it submitted a letter of intent for credit amounting to 150 billion won to participate in the PF loans. The prosecution suspects that former Special Prosecutor Park's influence played a role behind Woori Bank's decision.

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