Guksubon "Considering Addresses of Corporations and Key Stakeholders"
[Asia Economy Reporter Lee Gwan-joo] The police investigation related to Hwacheon Daeyu Asset Management (Hwacheon Daeyu), which has been suspected of receiving special favors in the Daejang-dong district development project in Seongnam-si, Gyeonggi Province, will be unified under the Gyeonggi Nambu Police Agency.
The National Police Agency's National Investigation Headquarters (NIH) announced on the 28th that two cases, including the special favor allegations in the Daejang-dong development reported by civic groups and the suspicion of a 5 billion KRW retirement payment received by the son of Assemblyman Kwak Sang-do, have been assigned to the Gyeonggi Nambu Police Agency.
The NIH explained, "The main acts of the reported contents took place in the jurisdiction of the Gyeonggi Nambu Police Agency, where the corporation and key related persons are located, so the case has been assigned there to commence the investigation."
Additionally, the matter concerning suspicious fund flows of Hwacheon Daeyu, which was under a preliminary investigation (internal inquiry) by the Yongsan Police Station in Seoul, has also been transferred to the Gyeonggi Nambu Police Agency. In April, the police received an official document from the Financial Intelligence Unit (FIU) of the Financial Services Commission reporting suspicious fund flow details related to Hwacheon Daeyu, and Yongsan Police Station had started a preliminary investigation. The day before, Kim Man-bae, the major shareholder of Hwacheon Daeyu, was also questioned as a witness at Yongsan Police Station.
The NIH decided to support the Gyeonggi Nambu Police Agency by dispatching seven investigators from the Yongsan Police Station's intelligence team and four members from the Seoul Metropolitan Police Agency's crime proceeds tracking team to maintain continuity in the investigation.
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