'Daechung-dong Core' Yoo Dong-gyu's First Trial Today... "Defendant Appears in Person"

Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation [Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] The first trial of Yoo Dong-gyu, former Planning Director of Seongnam Urban Development Corporation and one of the key figures in the Daejang-dong development preferential treatment and lobbying allegations case, is set to take place.

At 10 a.m. on the 24th, the Criminal Division 22 of the Seoul Central District Court (Presiding Judge Yang Cheolhan) will hold the first hearing for Yoo, who was detained and indicted on charges including bribery under the Act on the Aggravated Punishment of Specific Crimes and promise of receiving bribes after committing fraudulent acts. According to the defendant's obligation to appear in formal trials, Yoo must attend the court in person.

Previously, the prosecution indicted Yoo on charges of receiving 352 million KRW multiple times as compensation for providing business conveniences from the Daejang-dong development company while serving as the Planning and Management Director of Seongnam Facilities Management Corporation in 2013.

Yoo was also indicted on charges of committing fraudulent acts in office by favoring Hwacheon Daeyu during his tenure as Planning Director of Seongnam Urban Development Corporation from 2014 to 2015, and promising to receive 70 billion KRW (42.8 billion KRW after tax deduction).

The first hearing was originally scheduled for the 10th but was postponed to this day after the Seoul Central District Prosecutors' Office dedicated investigation team (Team Leader Kim Taehoon, 4th Deputy Prosecutor) submitted a request for a change of date to the court. The additional indictment on breach of trust charges and the occurrence of COVID-19 cases within the investigation team appear to have influenced this change.

The additional indictment case against Yoo (breach of trust charges) has also been assigned to the same court division, but since the first hearing date has not been set, the possibility of consolidating it with the bribery charge trial on this day may be discussed. The prosecution believes that Yoo colluded with Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, to channel at least 65.1 billion KRW worth of profits to Hwacheon Daeyu, causing losses to the corporation. Additionally, the prosecution's view is that Yoo received a bribe of 50 million KRW from Kim around January 31 of this year as compensation for this.