Kim Man-bae, a major shareholder of Hwacheon Daeyu Asset Management, a key figure in the suspected corruption in the Daejang-dong development project, was released on the 24th after the detention period ended.
Mr. Kim came out of the Seoul detention center where he was imprisoned at around 0:03 that day. He told reporters, “I’m sorry for causing a stir in many ways,” and “I’m sorry, regardless of the legal ruling.” Mr Kim continued, “I will attend the case faithfully in the future.”
While carrying out the Daejang-dong development project, Mr Kim was accused of conspiring with Dong-gyu Yoo, the former head of the headquarters of the Seongnam Urban Development Corporation, to drive a profit of at least 65.1 billion won to a private business operator, and cause damage to’ the construction of which there are many (under the Specific Economically Aggravated Penalties Act), etc., and which are currently on trial. On the 18th, the court decided to release him without issuing an additional arrest warrant. After being charged, it appears that there is no concern about destroying evidence because the investigation of key witnesses and evidence has been completed through the trial for about a year.
Recently, Mr Yoo and lawyer Nam Wook, a private business operator, claimed to have heard from Mr Kim that Lee Jae-myung, representative of the Democratic Party, has a stake in the development of Daejang-dong, and that attention is being paid focus on which point of view Mr. Kim revealed it after his release. So far, Mr Kim has shown that such claims are not true.
As the Moon Jae-in administration changed to the Yoon Seok-yeol administration, all those connected to Daejang-dong who were arrested last year, and two of Lee’s closest aides, including Jeong Jin-sang, the deputy head of the Democratic Party, were released. representative office, and Kim Yong, vice president of the Democratic Research Institute, were arrested anew.