Prosecutors Conduct Search of Hana Financial Group Over Gwak Sang-do's 5 Billion Won Allegation

The prosecution investigating former People Power Party lawmaker Gwak Sang-do's '5 billion won bribery suspicion' is conducting a search and seizure at Hana Financial Group's office on the 26th.

Former People Power Party lawmaker Kwak Sang-do, who is accused of receiving bribes from the Daejang-dong group under the pretext of his son's severance pay, is attending the first trial sentencing hearing related to violations of the Act on the Aggravated Punishment of Specific Crimes at the Seoul Central District Court in Seocho-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

According to the legal community, the Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baek-shin) sent prosecutors and investigators to Hana Financial Group's office in Jung-gu, Seoul, this morning to secure materials related to the formation of the Daejang-dong project consortium.

This is the first search and seizure of Hana Bank since the prosecution began supplementary investigations following the first trial acquittal of former lawmaker Gwak on charges of mediation bribery and bribery.

The prosecution suspects that in 2015, former lawmaker Gwak prevented the collapse of the Seongnam-e Deul consortium, which included Hwacheon Daeyu Asset Management, and in return, received 5 billion won (2.5 billion won after tax) from major shareholder Kim Man-bae under the pretext of his son's severance pay. At that time, during the Daejang-dong development project bidding, when Hoban Construction pressured Hana Bank to leave the Seongnam-e Deul consortium and join the Industrial Bank consortium, the prosecution believes that former lawmaker Gwak exerted influence over Hana Bank to block this move.

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