Kim Seong-tae, Former Ssangbangwool Chairman, Sentenced to 2 Years and 6 Months in Prison in First Trial... 'North Korea Remittance' Acquitted

Former Ssangbangwool Group Chairman Kim Seong-tae, who was indicted on charges including paying $8 million to North Korea on behalf of Gyeonggi Province during Lee Jae-myung's tenure as governor of Gyeonggi Province in 2019, was sentenced to a prison term in the first trial on the 12th.

Former Ssangbangwool Group Chairman Kim Sung-tae (Photo by Yonhap News)

On that day, the Criminal Division 11 of Suwon District Court (Presiding Judge Shin Jin-woo) sentenced Kim to one year in prison with a two-year probation for violating the Political Funds Act, and two years and six months in prison for bribery and other charges. He was acquitted of charges related to illegal remittance to North Korea, including violations of the Foreign Exchange Transactions Act and the Inter-Korean Exchange and Cooperation Act. Considering there was no risk of evidence destruction or flight and that he sincerely participated in the trial, the court did not detain Kim in custody.

The court stated, "The defendant's crimes have damaged the public's trust in the non-purchasability of public officials' duties and the fairness of execution," and added, "The legislative intent of the Political Funds Act has been seriously undermined, making the culpability severe." It further noted, "In an attempt to maintain private friendship or relations with a prominent politician, the defendant tried to promote inter-Korean exchange and cooperation projects without the approval of the Minister of Unification, causing harm to inter-Korean exchange projects that should be transparently conducted under government supervision," and added, "By covertly transferring a large sum of money to North Korea, he caused diplomatic and security issues, which is highly condemnable."

However, the court explained the sentencing reasons by stating, "The defendant generally acknowledged the facts, appears to have decided and executed the crime at the request or persuasion of Lee Hwa-young, and there is no evidence that he gained substantial benefits, which are favorable circumstances."

Kim was indicted on charges of providing political funds amounting to about 334 million won to former Gyeonggi Province Deputy Governor for Peace Lee Hwa-young between July 2018 and July 2022 through methods such as providing Ssangbangwool Group corporate cards and vehicles and paying false salaries to aides, and bribing about 259 million won from that amount.

He is also accused of paying a total of $8 million to North Korea, including $5 million for North Korea's smart farm support project in Gyeonggi Province in 2019 and $3 million for the travel expenses of then-Governor Lee Jae-myung's visit to North Korea.

The prosecution understood that Kim received promises such as preferential business opportunities for future inter-Korean projects promoted by Gyeonggi Province or joint promotion of inter-Korean projects in return for the payment. The prosecution sought a prison term of three years and six months for Kim.

Earlier, former Deputy Governor Lee was sentenced to nine years and six months in prison last month on charges including violating the Foreign Exchange Transactions Act and accepting bribes. The first trial court recognized that the funds delivered to North Korea were paid by Ssangbangwool on behalf of Gyeonggi Province for the smart farm project expenses and the governor's travel expenses to North Korea.

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