Accumulating "Demand for Compensation" Statements... Park Young-soo Special Prosecutor on the Brink
The prosecution is increasing pressure on former special prosecutor Park Young-soo, whose summons is imminent, by consecutively securing meaningful testimonies related to the 'Daejang-dong 5 billion Club' allegations. It is reported that former special prosecutor Park is preparing for the summons investigation while expressing mental stress and burden caused by the prosecution's intensive investigation to those around him.
According to the legal community on the 13th, the Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Eom Hee-jun) summoned Yang Jae-sik, a former special prosecutor assistant and known as a close aide to former special prosecutor Park, for questioning the day before, and is finalizing the investigation schedule and attendance method for former special prosecutor Park. The prosecution plans to investigate former special prosecutor Park by the end of this week at the latest.
Meanwhile, the prosecution has secured multiple testimonies stating that "former special prosecutor Park's side demanded compensation for assisting in the formation of the Daejang-dong consortium" while investigating individuals related to the Daejang-dong urban development project. It is reported that accountant Jung Young-hak, Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu), and lawyer Nam Wook, owner of Cheonhwa-dongin No. 4, recently gave testimonies to the prosecution along these lines.
Former special prosecutor Park is under investigation for allegedly receiving promises of land and commercial buildings worth about 20 billion KRW from the Daejang-dong group in November 2014, when he was chairman of the board at Woori Bank, in exchange for having Woori Bank participate as an equity investor in the Seongnam-e Deul consortium. The Daejang-dong group testified that "former special prosecutor Park's side demanded compensation," and if the initial promise to give land and buildings worth about 20 billion KRW was made with former special prosecutor Park's side, it would be considered 'collusion,' whereas if former special prosecutor Park unilaterally forced it, it would be a case of 'coercion.' If these allegations are true, the possibility that former special prosecutor Park actively exerted influence on Woori Bank for compensation increases. A prosecution official confidently stated, "We are approaching the substance of the matter regarding whether former special prosecutor Park exerted influence on Woori Bank."
The prosecution believes that as Woori Bank's consortium participation form changed, the amount of compensation former special prosecutor Park was initially to receive also decreased from 20 billion KRW to about 5 billion KRW. Woori Bank initially intended to participate as an investor in the Seongnam-e Deul consortium but ultimately did not participate in March 2015 due to opposition from the screening department. Instead, it submitted a letter of intent for a 150 billion KRW project financing (PF) loan on March 23 of the same year, indicating participation in the PF loan. As a result, the Seongnam-e Deul consortium received nearly perfect scores in the 'fundraising' section of the private business operator evaluation criteria.
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The prosecution also questioned former special prosecutor assistant Yang about this matter the day before. Yang, suspected of playing a practical role in the process of lobbying between former special prosecutor Park and private operators in Daejang-dong, was registered as a suspect along with former special prosecutor Park. Yang, who had a relationship with former special prosecutor Park for about 20 years since their time as prosecutors, worked on the state affairs manipulation special prosecution team in 2016. It is known that he discussed issues such as the formation of the Seongnam-e Deul consortium even at the Gangnam office of the law firm where he works. Yang, who had denied the allegations against him until now, denied most charges during the prosecution investigation the day before as well.
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