Prosecution Recovers Additional 2.052 Billion Won in Jeon Du-hwan's Forfeiture Funds

Visitors continue to pay their respects at the funeral hall of the late former President Jeon Du-hwan, set up at Sinchon Severance Hospital in Seodaemun-gu, Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Kim Hyung-min] The prosecution has additionally recovered approximately 2.052 billion KRW in unpaid fines from the late former President Jeon Du-hwan.

The Crime Proceeds Recovery Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Im Se-jin) on the 31st recovered the fines by receiving payment from the public auction of two plots of forest land owned by the former President's family in Osan-si, Gyeonggi-do, and transferring the funds to the national treasury.

Previously, the former President's family had entrusted five plots of forest land in Osan-si to Trust Company A. In 2013, the prosecution seized these lands to enforce the fine imposed on the former President. In response, Trust Company A filed a lawsuit in July 2018 with the court, claiming the seizure was unjust and sought to nullify the seizure order, which delayed the enforcement of the fine.

Meanwhile, through requests from the tax office and city hall, the forest land was put up for public auction. At that time, 7.56 billion KRW was allocated as the portion for the fine. However, payment was withheld due to the lawsuit filed by Trust Company A.

Then, in July, the Supreme Court ruled that the prosecution's seizure was lawful. Accordingly, the prosecution was able to receive payment first for the two plots. For the remaining three plots, Trust Company A has filed a lawsuit to cancel the distribution order of the auction proceeds, and the prosecution must await the outcome of that ruling.

The prosecution stated, "We plan to continue recovering tens of billions of KRW, including the remaining auction proceeds pending payment and funds collectible due to new legal grounds (judicial settlement)."