'40 Billion KRW Bonus from Hwacheon Daeyu' Former Seongnam City Council Chairman Choi Yoon-gil Faces Arrest Decision Today

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] The decision on whether to detain former Seongnam City Council Chairman Choi Yoon-gil, who is accused of receiving a large performance bonus (bribery) from Hwacheon Daeyu Asset Management (Hwacheon Daeyu), a private business operator that participated in the Daejang-dong urban development project and reaped enormous profits, will be made on the 18th.

The Suwon District Court will conduct a pre-arrest detention hearing (warrant substantive examination) for former Chairman Choi from 10:30 a.m. on the same day. The result is expected to be announced as early as that night.

Earlier, the Gyeonggi Southern Police Agency's dedicated investigation team applied for an arrest warrant against former Chairman Choi on bribery charges on the 11th. The prosecution, having received this, filed the warrant with the court on the 13th.

Former Chairman Choi switched his party affiliation from Saenuri Party (now People Power Party) to the Democratic Party in 2012 and worked as vice chairman of Hwacheon Daeyu from 2020. He is accused of receiving a performance bonus of 4 billion KRW from Hwacheon Daeyu major shareholder Kim Man-bae and others as a reward for leading the passage of the ordinance establishing the Seongnam Urban Development Corporation, which was the starting point of the Daejang-dong development, during his tenure as Seongnam City Council chairman.