'Daechang-dong 5 Billion Club' Allegations: Former Special Prosecutor Park Young-soo Released on Bail with Electronic Monitoring Condition (Comprehensive)

Former special prosecutor Park Young-soo, who was indicted on suspicion of being part of the so-called 'Daejang-dong 5 Billion Club,' was released on bail and will stand trial without detention.

Former Special Prosecutor Park Young-soo. [Photo by Yonhap News]

The Seoul Central District Court Criminal Division 33 (Presiding Judge Kim Dong-hyun) on the 19th granted bail to former special prosecutor Park, who was indicted on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes.

The court set bail conditions including submission of a pledge and attendance guarantee related to appearance and evidence tampering, payment of a deposit of 50 million won (20 million won in insurance bonds), and compliance with designated conditions.

The designated conditions set by the court are ▲residence restriction ▲obligation to attend trial ▲prohibition of any contact or communication via phone calls, text messages, SNS, etc., with witnesses or persons who testified as witnesses during the investigation of this case, or other related parties (if contact is received, the circumstances and content must be reported to the court) ▲obligation to report travel permission ▲attachment of electronic monitoring device (residence restriction), among others.

Former special prosecutor Park filed for bail with the court on December 27 last year. Under the Criminal Procedure Act, the maximum detention period for a defendant indicted in the first trial is six months. Park’s detention period was set to expire on the 20th of next month.

Park is accused of receiving 800 million won and promising 20 billion won in return for facilitating requests related to a consortium of private contractors in connection with the Daejang-dong development project while serving as an outside director, chairman of the board, and audit committee member of Woori Bank from November 3, 2014, to April 7, 2015.

At the bail hearing held on the 11th, he stated, “If I had acted more cautiously, this would not have happened,” and added, “I will sincerely cooperate with the trial without playing games or scheming.”

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