Court Grants Bail to Jeong Ba-ul, Developer of Baekhyeon-dong

Court: "Electronic Device Attachment, 200 Million Won Deposit Required"

Jung Ba-ul, chairman of Asia Developer and a private developer in Baekhyeon-dong, who was arrested and indicted on charges of embezzlement and breach of trust involving hundreds of billions of won, will be released on bail.

The Seoul Central District Court Criminal Division 27 (Presiding Judge Kim Ok-gon) accepted Chairman Jung's bail request on the 8th.

The court set conditions for release, including attaching an electronic device for real-time location tracking, compliance with court appearance obligations, and payment of a 200 million won deposit.

It also prohibited direct or indirect contact with witnesses, informants, and other persons related to the case through phone calls, text messages, or social networking services (SNS), and restricted his residence to his home and the hospital where he is first admitted for cancer treatment. Permission must be obtained for overseas travel.

Under the Criminal Procedure Act, the maximum detention period for a defendant indicted while in custody during the first trial is six months, and Chairman Jung's detention period was set to expire on the 26th of next month.

During the hearing held on the 3rd, Chairman Jung's side requested bail, stating, "I underwent prostate cancer surgery in the past, but currently various indicators are not good, and if I do not receive treatment daily, there is a high possibility of recurrence."

Chairman Jung was arrested and indicted in June of this year on charges of embezzling and breaching trust of a total of 48 billion won from companies including Seongnam R&D PFV, the developer of the Baekhyeon-dong project, Asia Developer, which he is the actual owner of, and Younglim General Construction, from July 2013 to March of this year.

The prosecution believes that during the Baekhyeon-dong development project, Chairman Jung embezzled company funds as a bribe to Kim In-seop, former CEO of Korea Housing Technology, who was identified as the 'lobbyist for permits' for the Baekhyeon-dong project, in exchange for facilitating permits with Seongnam City.

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