'Daechung-dong Keyman' Nam Wook Returns on 18th... Suspect to Be Summoned

Prosecutors Complete Search and Seizure at Hwacheon Daeyu
(Seongnam=Yonhap News) Reporter Hong Gi-won = On the afternoon of September 29, prosecutors who completed the search and seizure at the Hwacheon Daeyu Asset Management office in Seongnam, Gyeonggi Province, are moving seized items.
The prosecution has launched a full-scale investigation by conducting search and seizure of offices and residences of Hwacheon Daeyu, an asset management company suspected of preferential treatment in the Daejang-dong development project in Seongnam, Gyeonggi Province. 2021.9.29 [Joint Coverage]
xanadu@yna.co.kr
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[Asia Economy Reporter Junhyung Lee] Nam Wook, a lawyer known as a key figure in the preferential treatment and lobbying allegations related to the Daejang-dong development project, will return to Korea on the morning of the 18th.

According to legal circles on the 16th, Nam booked a flight arriving at Incheon International Airport in the early morning of the 18th. Nam left for the United States in mid-last month before the prosecution officially launched an investigation into the preferential treatment and lobbying allegations in the Daejang-dong development project. However, it is reported that he decided to return after facing pressure, including his passport becoming invalid recently.

Nam was also spotted visiting the Los Angeles (LA) Consulate General in the United States the day before to obtain an emergency passport. Having been involved in the Daejang-dong development project since 2009, Nam is considered a key figure in this case along with accountant Jung Young-hak, Kim Man-bae, the major shareholder of Hwacheon Daeyu, and Yoo Dong-gyu (detained), former head of the planning department at Seongnam Urban Development Corporation.

He was indicted on charges of receiving money along with a request from the real estate development company to help change the Daejang-dong public development, initially promoted by Korea Land and Housing Corporation (LH), into a private development, but was also acquitted. In 2014, then Seongnam Mayor Lee Jae-myung changed the Daejang-dong development into a public-private joint development, and together with Kim Man-bae, major shareholder of Hwacheon Daeyu, participated in the development project company. Nam received dividends of 100.7 billion KRW through Cheonhwa-dongin No.4, which he owned.

Hwacheon Daeyu Major Shareholder Kim Man-bae Leaving Detention Center
(Uiwang=Yonhap News) Reporter Yoon Dong-jin = Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management (Hwacheon Daeyu) and a key figure in the Daejang-dong development lobbying and preferential treatment allegations, is seen leaving the Seoul Detention Center in Uiwang, Gyeonggi Province, and getting into a vehicle after his arrest warrant was dismissed on the 15th. 2021.10.15
mon@yna.co.kr
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When the preferential treatment and lobbying allegations related to the Daejang-dong development surfaced, Nam claimed in media interviews that he had never been to the Hwacheon Daeyu office. He asserted that Kim and former head Yoo led the project and that he only heard talk about lobbying.

Earlier, the prosecution requested the Ministry of Foreign Affairs to invalidate Nam’s passport to secure his custody while he was staying in the United States. The Ministry of Foreign Affairs issued a passport surrender order and restricted passport issuance to Nam in accordance with the Passport Act.

It is reported that he recently hired lawyers from major domestic law firms to prepare for the prosecution’s investigation. The prosecution plans to summon Nam as a suspect soon to investigate suspicions regarding the true owner of Cheonhwa-dongin No.1, the process of deleting the excess profit recovery clause, and lobbying allegations involving political circles.

There is also a possibility that the prosecution will obtain an arrest warrant and secure his custody immediately at the airport. However, whether the prosecution will request a warrant has not yet been disclosed.