◀ anchor ▶
At that time, there was significantly controversy about the governing administration providing state-owned banking institutions to overseas personal fairness cash at very low rates and aiding what was identified as ‘eat and run’.
In the finish, I paid 300 billion won a lot more to this Lone Star, but no just one is taking duty now.
Individuals who took component in significant occasions at the time are even now in higher positions in charge of the country’s economy.
By Bae Joo-hwan.
◀ Report ▶
It begun with the international trade crisis.
When Korea Trade Lender, the condition-run financial institution, went bankrupt, the financial authorities accepted the takeover of Lone Star, an American non-public equity fund.
A discussion arose that the sale of a lender to a very speculative private equity fund was against the banking regulation, but federal government officials spelled out that they experienced no preference but to do so.
[변양호/당시 재경부 금융정책국장 (2005년 10월)]
“Who would want to set a domestic financial institution into the fund?
The Board of Audit and Inspection concluded that it was unlawful, and the Business of the Supreme Prosecutor even done an investigation, but all have been identified not responsible.
Immediately after lots of controversies, Lone Star sold KEB to Hana Monetary in 2012 and left with an astronomical profit of 4.6 trillion gained.
There has now been controversy that the economical authorities promoted the so-referred to as theft even while they were being not suitable for a main shareholder thanks to a case of stock price manipulation.
[송기호/변호사]
“I feel it is necessary to recognize the particular person responsible for the causal motion for the component the place the accountability of the Korean government is acknowledged.”
The key figures in the scenario are continue to in superior-position govt positions.
Primary Minister Han Deok-soo, who was an advisor to Lone Star’s lawful representative, Kim & Chang.
[한덕수/국무총리]
“Personally, I have in no way been a element of Lone Star. I’ve in no way participated in a single this kind of action at all.”
Deputy Prime Minister Choo Kyung-ho, who served as head of the Ministry of Finance and Economy’s banking technique department for the duration of the acquisition and vice chairman of the Money Companies Fee at the time of the sale.
[양경숙/국회 기재위원]
“If you go back, will you even now make the very same conclusions you designed on the Lone Star situation?”
[추경호/경제부총리 후보자]
“I consider I will.”
Kim Joo-hyeon, chairman of the Monetary Providers Commission, who was secretary-basic of the Fiscal Expert services Commission at the time of the sale.
[김주현 금융위원장 (지난달 28일)]
“If there is a little something to be held liable for (impression), we will talk about it again afterwards.”
We have been questioned to pay back yet another 300 billion earned in tax, but no a person is responsible.
This is Bae Joo-hwan from MBC News.
Online video Modifying: Yoo Da-hye
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