Attorney Jeong Min-yong, who is on trial for allegations of lobbying and preferential treatment related to the Daejang-dong development, is attending a hearing at the Seoul Central District Court in Seocho-gu, Seoul, on the morning of the 14th. Photo by Kang Jin-hyung aymsdream@
[Asia Economy Reporter Seongpil Cho] Testimony from Jeong Min-yong revealed that Lee Jae-myung, the leader of the Democratic Party of Korea and former mayor of Seongnam, personally decided to separate the 1st Industrial Complex park project, which alleviated the cost burden for the 'Daejang-dong gang.'
On the 27th, Jeong appeared as a witness at a trial held at the Seoul Central District Court Criminal Division 22 (Presiding Judge Lee Jun-cheol). When asked by Kim Man-bae’s lawyer, "Did you report the separation of the 1st Industrial Complex to Mayor Lee Jae-myung on January 2016 and receive his approval?" Jeong answered, "Yes." He further explained, "Before entering the mayor’s office, I heard that the separation of the 1st Industrial Complex had already been approved, but when Mayor Lee listened to the explanation, he said, 'Separation development is not allowed. Then how will you proceed with the park project?' So, after about an hour of discussion, the mayor ultimately instructed to proceed with the separation."
The Daejang-dong project was originally planned as a combined development of the Daejang district and the park project for Seongnam’s Sujeong-gu 1st Industrial Complex. However, in 2016, the projects were separated, and Daejang-dong was developed first. Thanks to this, private developers in Daejang-dong were relieved of the initial borrowing burden of approximately 200 billion KRW for compensation related to the 1st Industrial Complex land acquisition. However, when Kim’s lawyer asked Jeong, "Did any private business party ever request you to get approval from the Seongnam mayor for the separation of the 1st Industrial Complex?" Jeong replied, "No."
Jeong joined Seongnam Urban Development Corporation through an introduction by Nam Wook, one of the private developers in Daejang-dong, and he drafted the project bidding guidelines for the Daejang-dong project. He is currently on trial, charged with drafting the bidding guidelines in a way favorable to Hwacheon Daeyu Asset Management, where Kim is the major shareholder.
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