Prosecutors Request Arrest Warrant for Park Cha-hoon, Chairman of Saemaeul Geumgo Central Association

The prosecution has requested an arrest warrant for Park Cha-hoon, the president of the Saemaeul Geumgo Central Association.

On the 6th, the Seoul Eastern District Prosecutors' Office announced that it conducted an investigation of President Park on the 3rd and requested an arrest warrant on the 4th on charges of bribery.

Earlier, the prosecution conducted repeated raids on the Saemaeul Geumgo Central Association and Park's residence on the 20th of last month over suspicions of corruption during the private equity fund (PEF) capital investment process. In March, they raided the Saemaeul Geumgo Central Association and eight branch offices, and conducted two more raids in April.

On the 6th of last month, the prosecution requested an arrest warrant for Ryu Hyuk, CEO of Saemaeul Geumgo Central Association Credit Guarantee, on charges including breach of trust, but the court dismissed the request.

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