Former Special Prosecutor Park Young-soo of the 'Daejang-dong 5 Billion Club' Suspicion Released on Bail

by Kwak Minjae

Published 19 Jan.2024 14:10(KST)

Former special prosecutor Park Young-soo, who was indicted on allegations related to the so-called 'Daejang-dong 5 billion Club,' has been 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 (Chief Judge Kim Dong-hyun) 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, on the 19th.

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

Park is accused of serving as an outside director, chairman of the board, and audit committee member of Woori Bank from November 3, 2014, to April 7, 2015, during which he allegedly promised 20 billion won and received 800 million won in exchange for facilitating requests related to the consortium of private contractors involved in the Daejang-dong development project.

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, scheming, or trying to outsmart anyone."