Unpaid Additional Charges of 97 Billion Won
On November 30 last year, former President Jeon Du-hwan and his wife Lee Soon-ja were leaving their residence in Yeonhui-dong, Seodaemun-gu, Seoul to attend the first trial sentencing hearing for defamation of the deceased held at the Gwangju District Court... Photo by Kim Hyun-min kimhyun81@
[Asia Economy Reporter Choi Seok-jin] The prosecution announced on the 23rd that it has executed 123.5 billion KRW (56%) out of the 220.5 billion KRW confiscation order finalized in 1997 against former President Jeon Du-hwan. The prosecution plans to recover an additional 1.65 billion KRW by the end of next year.
The Crime Proceeds Recovery Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Park Seung-hwan) disclosed this in an explanatory document on the execution details of the confiscation order against former President Jeon distributed on the same day.
The prosecution stated, "In April 1997, a confiscation order of 220.5 billion KRW was finalized against former President Jeon, and currently 132.5 billion KRW (56%) has been executed, with an outstanding confiscation amount of approximately 97 billion KRW (44%)."
It added, "Since July 2013, a special recovery team was formed at the Seoul Central District Prosecutors' Office to track funds and investigate related parties, securing responsible assets worth 170.3 billion KRW (the then outstanding amount was 167.2 billion KRW). Since then, an additional 70.2 billion KRW has been executed, and recently, more than 3 billion KRW annually (3.2 billion KRW in 2019, 3.5 billion KRW in 2020) has been executed."
The prosecution reported that it has been conducting seizure and public auction of responsible assets worth hundreds of billions of KRW, including former President Jeon's Yeonhui-dong residence, Osan city forest land, and villas and land in Yongsan-gu, but several lawsuits are currently ongoing due to objections from the real estate owners and former President Jeon's side.
In particular, regarding the Supreme Court ruling on April 9 that it is difficult to recognize the main building and garden part of the Yeonhui-dong residence as "illegal property" acquired through bribery, the prosecution judged the property as former President Jeon's "nominee property," completed a provisional disposition registration to prohibit disposition on April 8, and plans to file a creditor subrogation lawsuit in the future.
Additionally, the prosecution has completed execution of approximately 10.2 billion KRW through the shares of Bookplus Co., Ltd., operated by former President Jeon's eldest son Jae-guk, and the Seocho-dong office building of Sigongsa Co., Ltd. It plans to execute an additional 1.65 billion KRW, including 350 million KRW by the end of this month, according to the court's mediation decision related to Sigongsa Co., Ltd., by the end of 2022.
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