'Rhyme Momtong' Metropolitan Chairman's Close Associate Arrested... Possible Domestic Extradition as Early as Today

Arrested Locally in the Philippines While on Interpol Red Notice

[Asia Economy Reporter Yoo Byung-don] A close aide of Kim Young-hong, chairman of Metropolitan and a key figure in the Lime Asset Management (Lime) case who has been on the run, was apprehended overseas and is expected to be extradited to South Korea as early as the 18th.

According to the legal community, Jeong, who was on Interpol's red notice, was arrested around the 8th of this month in the Philippines and detained in a foreign detention center. He has completed the paperwork for extradition and is expected to be sent back to South Korea as early as today.

Jeong, who is the head of a casino in the Philippines, is suspected of supporting overseas escape funds by distributing profits to Chairman Kim, the actual owner of the casino.

This casino is known to have operated as a kind of remote gambling venue called an "Avatar Casino," which broadcasts gambling scenes to South Korea. Jeong is charged with opening a gambling space and pocketing profits amounting to about 70 billion won.

Earlier, the Seoul Southern District Prosecutors' Office had suspended prosecution of Jeong and Chairman Kim, who had fled overseas, in November of last year.

Meanwhile, Metropolitan, a real estate development company, received about 300 billion won in investment from Lime, and Chairman Kim is accused of embezzling a significant portion of the funds.

Currently on trial, former Star Mobility chairman Kim Bong-hyun has identified Chairman Kim and others as key figures in the Lime case, which caused a redemption suspension crisis involving about 1.6 trillion won.