Grandson of Jeon Du-hwan, who exposed 'Geomeundon', says "Tens of billions of won flowed to me"

Yonhap News Interview Continues to Reveal Allegations
Also Raises Suspicions Regarding Father's and Brothers' Secret Funds

Jeon Woo-won, the grandson who exposed the corruption of the late former President Jeon Du-hwan's family, said, "Only I received tens of billions of won in assets," adding, "You can assume the other family members received even more."

According to Yonhap News on the 15th (local time), Jeon referred to himself and his family as "criminals" and revealed that he was able to live in the United States thanks to the former president's illegal slush funds.

He said, "The reason I was able to attend school and work in the U.S. was because of funds amounting to several hundred million won per year, the source of which is unknown," adding, "At least 1 billion won was spent on tuition and education expenses, and I firmly believe that this money was not clean."

Photo by Jeon Woo-won, grandson of former President Jeon Du-hwan, Instagram capture

Jeon also disclosed the specific sources of the slush funds. He said that 20% of the shares of a company called BL Asset, unlisted stocks of a company called Wear Valley, and a luxury real estate called Jun Art Ville were transferred under his name.

However, the slush funds under Jeon's name have been transferred to his stepmother, Park Sang-a. He explained, "My father told me, 'You have stocks that were gifted to you, but since I have no money after serving a harsh prison sentence, transfer them to your stepmother,' referring to the unlisted stocks of Wear Valley."

Jeon also raised suspicions of corruption involving his father's siblings. He said, "I know that the company operated by Jeon Jae-guk, the eldest son of former President Jeon, using a figurehead president, is worth several tens of billions of won," mentioning construction companies, Herb Village, and Nasmedia. Regarding the winery business of Jeon Jae-man, the third son, he said, "A winery requires large-scale, state-of-the-art facilities, so it is absolutely not a field that someone without overflowing money can easily enter."

Former President Jeon Du-hwan holding his grandchildren [Photo by Jeon Woo-won, Instagram capture]

Regarding why the suspicions of slush funds involving the Jeon Du-hwan family have not been fully revealed until now, he explained that it was because they received help from third parties. Jeon said, "The source of the money is them (the family), but on paper, it appears to come from acquaintances," adding, "For example, Wear Valley was established by a bodyguard, and such organizations transfer the assets."

He added, "(Acquaintances such as bodyguards) continue to receive money from the family, so there is no reason for them to stop such actions."

When asked about his decision to expose his family's corruption, Jeon said, "I learned from many people that our family is a disgrace since I was young," adding, "I was hurt too, so I did not accept it, but after meeting many good people and learning the innocence of children through volunteer work, I decided to let go of everything and accept it. I decided to accept that a crime is a crime."