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Testimony emerged that Yoo Dong-gyu, the former head of the planning division of Seongnam Urban Development Corporation, severely rebuked a working-level person who said that it was necessary to come up with a plan to recover excess profits from private businesses during the Daejang-dong development project.
The 22nd Criminal Settlement Division of the Seoul Central District Court called as witnesses today at the 4th trial of former general manager Yoo, Kim Man-bae, a major shareholder of Hwacheon Daeyu, Nam-wook, Jung Min-yong, and Jeong Young-hak, an accountant.
At the time of the Daejang-dong project, Mr. Park worked in the development planning team of the first development project, and has continued to support the business even after the development support team took the lead.
Prosecutors asked, “Didn’t the head of the development planning team, Joo Mo, mention any problems with the contents of the February 2015 competition guidelines?” Park answered “yes”.
According to Park’s explanation, at the time, the public offering guidelines confirmed the profit of 182.2 billion won and the rest of the profits were not claimed by the corporation.
“I remember that Joo was aware that there was no way to distribute the rest of the profits if the business went well,” Park said.
In response to the prosecution’s additional question, “Do you know that Joo was reprimanded by former general manager Yoo for raising the issue of collusion guidelines to Attorney Jung Min-yong,” Park said, “There was a saying, ‘I was shot’ as I said at the time.” acknowledged the relationship.
Former general manager Yoo and others are accused of driving at least 180 billion won in profits, including dividends from housing land development, to Hwacheon Daewoo and causing damage to the construction company.
Prosecutors believe that former general manager Yoo ignored the opinions of the working-level staff and did not come up with a plan to recover the excess profits of private operators, resulting in huge profits for Hwacheon Daewoo.
