![[2020 National Audit] Lee Joo-hwan "Is it true that Namdong Power met Kim Jae-hyun, CEO of Optimus?"](https://cphoto.asiae.co.kr/listimglink/1/2020101519500245647_1602759002.jpg)
[Asia Economy Reporter Moon Chaeseok] The opposition party's questioning continued at the National Assembly audit over whether Korea South-East Power met with Optimus Asset Management while investing in a biomass project in Thailand.
On the 22nd, Lee Joo-hwan, a member of the People Power Party, focused his inquiries on the connection between Korea South-East Power's investment in the Thai biomass project and the Optimus Asset Management public institution accounts receivable fraud case during the National Assembly Industry, Trade, Energy, Small and Medium Enterprises Committee audit.
The Optimus Asset Management redemption suspension incident involved raising 1.2 trillion won from 2017 until June this year by claiming to invest in public institution accounts receivable, then using the funds for acquiring insolvent companies and fund rollovers, causing damage to about 2,900 investors.
He requested the attendance of Heo Jeong-yeol, head of Korea South-East Power's overseas investment team, but as he did not appear, he questioned President Yoo Hyang-yeol.
President Yoo stated that it is not true that Korea South-East Power invested in the Thai biomass project based on a recommendation from Advisor Lee Heon-jae (former Deputy Prime Minister for Economic Affairs).
When Lee asked, "Is it true that Advisor Lee recommended it?" Yoo replied, "That is correct."
Lee explained the project overview based on materials provided by Korea South-East Power.
Lee said, "Related companies such as DK Energy, which established ties through the pellet business, made a reverse proposal for the biomass project to Korea South-East Power in Seoul on May 24 last year, and one of the participants was Director Heo," adding, "On October 7 last year, Korea South-East Power and related companies participated in a memorandum of understanding (MOU) between Seoul National University and Yala University in Thailand."
He continued, "On November 28 last year, Korea South-East Power visited Thailand regarding a 30MW biomass project and met CEO Kim Jae-hyun," adding, "After the meeting, for some unknown reason, the project changed to a 120MW project in two regions currently underway."
Lee asked, "Is it true that the late DK chairman told Director Heo to 'go to the investors and explain the investment conditions,' leading to meetings with NH Investment & Securities and Optimus Asset Management, and that a business report including DK and related companies was submitted?"
President Yoo answered, "Yes, that seems to be correct."
Lee pointed out, "Before the project selection service on March 30, a suitability judgment was received, and on April 8, Korea South-East Power sent a letter of intent to participate to DK and related companies, and this month the project investment service was prepared," adding, "However, on the 14th, Korea South-East Power downplayed the status of one of the related companies, stating 'we only know that the company has some substance.'"
He continued, "When asked if Korea South-East Power was aware of Optimus Asset Management's investment during the biomass project, they replied 'not at all aware,' but according to Korea South-East Power's materials, they met NH and Optimus Asset Management at the request of the late DK chairman, so saying they were unaware is a blatant lie," he asserted.
Lee requested Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy to investigate the truth about Korea South-East Power's project.
Minister Sung responded, "We will check on this."
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