[Asia Economy Reporter Kim Hyung-min] Around 8 p.m. on the 10th, at the Suwon District Prosecutors' Office Seongnam Branch, it is analyzed in legal circles on the 11th that Lee Jae-myung, leader of the Democratic Party of Korea, who was being investigated regarding the 'Seongnam FC sponsorship fund' allegations and had skipped dinner, likely experienced a significant decline in concentration. This is because 30 minutes earlier, former and current Ssangbangwool chairmen Kim Seong-tae and Yang Seon-gil, who fled overseas, were apprehended by local investigative authorities at a golf course in Pathum Thani, Thailand.
With the capture of former chairman Kim and current chairman Yang, who were identified as 'key men' to uncover various allegations against Lee, political and legal circles are focusing on the future course of the prosecution's investigation.
The Suwon District Prosecutors' Office is expected to take all possible measures from this day to repatriate the two men to South Korea as quickly as possible. A prosecution official stated, "We will cooperate with the Thai authorities to swiftly extradite the criminals." Since the passports of former chairman Kim and others have been invalidated, they must undergo deportation procedures by the Thai government. However, if they file lawsuits locally to refuse extradition to South Korea, it could take a considerable amount of time before their return. Previously, Kim Mo, the head of the Finance Headquarters of Ssangbangwool Group, known as Kim Seong-tae's 'treasurer,' was arrested in Thailand in early December last year and immediately filed a lawsuit with the Thai court to refuse extradition, which is currently ongoing.
The prosecution is expected to focus particularly on securing the custody of former chairman Kim. He is regarded as a key figure who is well aware of the details surrounding various allegations against Lee. Most of Lee's past actions, which have raised legal issues, coincide with the period when former chairman Kim was overseeing Ssangbangwool Group's affairs. The 'allegation of paying Lee's attorney fees' is receiving the most attention. It concerns the claim that Ssangbangwool Group paid 2.3 billion KRW in attorney fees to lawyer Lee Tae-hyung when Lee was on trial for election law violations due to spreading false information from 2018 to 2019.
Additionally, former chairman Kim is under investigation for allegedly smuggling out 6.4 million USD (approximately 7.2 billion KRW at the time) to China and transferring it to North Korea (North Korea remittance) during 2018-2019. He is also accused of violations of the Capital Markets Act, including false official statements related to Ssangbangwool Group's convertible bonds, breach of trust, and embezzlement. Although the prosecution has conducted a comprehensive investigation into these allegations for about a year, they have only managed to indict lower-level personnel or accomplices because they failed to apprehend former chairman Kim. He abruptly left for Singapore at the end of May last year before the prosecution's search and then moved to Thailand, living in hiding. To pressure him, the prosecution requested Interpol red notices from August to October last year, invalidated his passport, and completed seizure and preservation procedures on his assets, but they did not catch a trace of him.
With the recent capture of former chairman Kim, the previously stalled investigation is expected to reach a significant turning point. Some speculate that former chairman Kim may actively cooperate with the prosecution's investigation. During his time in hiding, he reportedly approached the prosecution first, suggesting a 'plea bargaining' by offering testimony related to Lee in exchange for leniency regarding the Ssangbangwool Group corruption case. The Suwon District Prosecutors' Office rejected this proposal at the time and maintains its stance to thoroughly investigate all charges. However, the fact that he attempted plea bargaining indicates that former chairman Kim is feeling fatigued from his life in hiding and the prosecution's investigation, and there is analysis that he may actively confess the full details of the allegations to reduce his sentence.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
