Prosecutors Freeze Assets Worth Approximately 127 Billion Won of Daejang-dong Development Contractors and Associates

Freeze on Real Estate, Vehicles, and Checks Under Kim Man-bae Family's Name

The prosecution has additionally frozen assets worth approximately 100 billion KRW belonging to the developers of Daejang-dong. Until a final court ruling is issued, the frozen assets cannot be disposed of at will.

The Seoul Central District Prosecutors' Office Anti-Corruption Investigation Division 1 (Chief Prosecutor Eom Hee-jun) and Division 3 (Chief Prosecutor Kang Baek-shin) announced on the 23rd that the court accepted their request for seizure and confiscation preservation against Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, Nam Wook, and others indicted for violating the Anti-Corruption Act in connection with the Daejang-dong development allegations.

Accordingly, trust income and other payment claims held under Hwacheon Daeyu's name by Kim, as well as real estate, vehicles, checks, and other assets worth a total of approximately 127 billion KRW held under Kim's family members' names, will be frozen.

Among the frozen assets, 112.4 billion KRW are assets derived from real estate, vehicles, bonds, and checks acquired by Kim as proceeds of crime. Real estate purchased by Kim's sister from Professor Yoon Ki-jung, father of President Yoon Seok-yeol, is also included in the frozen assets.

Assets worth 11.5 billion KRW acquired by Kim and others before the Daejang-dong project, whose direct connection to the crime has not been confirmed, and 3.1 billion KRW in personal accounts and checks of their families were also frozen.