Minju: "5 Billion Won Severance Pay for 7 Years of Work... Yoon Symbolizes 'Unfairness'"

Democratic Party Prosecution Dictatorship Political Oppression Countermeasures Committee Statement
"Hwacheon Daeyu, from 400 Million Won Jeonse Deposit to 500 Million Won Loan"
"Will Reveal the Truth on Whether There Are Additional Privileges"

[Asia Economy Reporter Oh Ju-yeon] The Democratic Party of Korea criticized the acquittal on bribery charges in the trial related to the 5 billion KRW severance pay of Gwak Byeong-chae, son of former People Power Party lawmaker Gwak Sang-do, who was mentioned as a member of the 'Daejang-dong 5 Billion Club,' stating that "it is reasonable to see that there was a lenient investigation, lenient prosecution, and lenient trial."

On the 12th, the Democratic Party's Committee for Countermeasures Against Prosecutorial Dictatorship and Political Oppression (the Committee) issued a statement saying, "It is common sense to the public that the 5 billion KRW severance pay to the son is a bribe from the Daejang-dong gang to former lawmaker Gwak," and made the remarks above.

The Committee said, "Gwak, born in 1990 and currently 32 years old, received a 5 billion KRW severance pay after 7 years of work at Hwacheon Daeyu. A 5 billion KRW severance pay for a regular employee (assistant manager) who worked for 7 years is unprecedented worldwide," adding, "This trial related to the 5 billion KRW severance pay is nothing less than a symbolic representation showing the inner workings of the 'Yoon Seok-yeol Prosecutorial Kingdom' and the People Power Party, which came to power under the banner of 'fairness.'"

They continued, "Every process from Gwak's hiring to resignation is stained with consistent 'unfairness,'" referring to a statement from September 2021 where Gwak said he joined Hwacheon Daeyu 'through his father's introduction,' calling it a typical 'dad's chance.'

The Committee emphasized, "As Gwak himself revealed, at that time (2015), the Daejang-dong gang had already been selected as the preferred negotiator for the project, making the project's success foreseeable," and added, "Joining Hwacheon Daeyu was possible because Gwak Byeong-chae, the 'son of God,' had a father who was a former prosecutor and former Blue House civil affairs chief, enabling various privileges and the 5 billion KRW severance pay at Hwacheon Daeyu."

Former People Power Party lawmaker Kwak Sang-do, accused of receiving bribes under the pretext of his son's severance pay from the Daejang-dong group, is attending the first trial sentencing hearing related to violations of the Act on the Aggravated Punishment of Specific Crimes at the Seoul Central District Court in Seocho-gu, Seoul, on the 8th. Photo by Kang Jin-hyung aymsdream@

Furthermore, "After joining Hwacheon Daeyu through his father's mediation, Gwak enjoyed all kinds of privileges while working at the company. According to media reports, Gwak Byeong-chae was the only regular employee at Hwacheon Daeyu who was provided with a corporate card and corporate car, spending 10 million KRW annually, totaling 51 million KRW, at golf practice ranges and restaurants. In addition, Hwacheon Daeyu paid 400 million KRW for Gwak's housing deposit and even lent him over 500 million KRW in 2020," the Committee stated, adding, "Given these welfare benefits, it is curious whether he maintained proper attendance and whether he enjoyed additional benefits beyond those already revealed."

The Committee criticized, "After completing his 'imperial workplace life,' the 'son of God' Gwak Byeong-chae received 5 billion KRW as severance pay. This amount is more than 500 million KRW higher than the severance pay of the president of Samsung Life Insurance, who ranked fourth among professional managers in their 30s in 2021," and said, "Gwak Byeong-chae's workplace life, a model of unfairness far removed from public common sense in all processes of hiring, labor, and retirement, would have been impossible if he were not the son of former prosecutor, former civil affairs chief, and former People Power Party lawmaker Gwak Sang-do. The Yoon Seok-yeol government and the People Power Party, which came to power under the banner of fairness, have no response to this."

They added, "The Democratic Party will uncover the truth on behalf of the public regarding whether former prosecutor, former civil affairs chief, and former People Power Party lawmaker Gwak Sang-do's influence affected this lenient investigation, lenient prosecution, and lenient trial, whether there were additional privileges enjoyed during his workplace life, and whether more severe unfairness existed."