The prosecution has launched a compulsory investigation into former special prosecutor Park Young-soo, who handled the state affairs manipulation case, thereby intensifying the investigation into the so-called 'Daejang-dong 5 Billion Club.'
The Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Eom Hee-jun) sent prosecutors and investigators on the 30th to the residences and offices of former special prosecutor Park and lawyer Yang Jae-sik on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (bribery, etc.), securing approval documents and bank transaction records.
Former special prosecutor Park is suspected of receiving 5 billion won as a reward for helping to form a consortium by excluding Bukuk Securities when Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, prepared the public offering for the Daejang-dong development project while Park was serving as chairman of the board at Woori Bank in 2014.
Park's daughter also worked at Hwacheon Daeyu and received 1.1 billion won from September 2019 to February 2021. In response, Park's side claimed it was a normal loan with an annual interest rate of 4.6% and a three-year term, recorded as a loan in the company's accounting books with a promissory note. However, it was pointed out as a suspicious transaction linked to the 5 Billion Club allegations. Additionally, suspicions arose that his daughter gained about 800 million won in capital gains by purchasing an apartment in Daejang-dong, revealing connections with Daejang-dong developers.
Lawyer Yang worked at the Gangnam law firm where former special prosecutor Park was the lead attorney and assisted Park as a special prosecutor deputy in 2016. He also jointly represented Jo Woo-hyung, a broker accused of arranging loans from Busan Savings Bank to the Daejang-dong private development company, along with former special prosecutor Park. In the so-called 'Jung Young-hak recording,' the Daejang-dong group referred to Yang's recruitment as a 'masterstroke.'
Earlier, the investigation team summoned A, the vice president of Bukuk Securities, as a witness on the 15th to confirm these circumstances and reportedly conducted a search and seizure on the same day. The prosecution called A to verify suspicions that former special prosecutor Park tried to exclude Bukuk Securities, which had experience participating in development projects similar to the Daejang-dong project.
Attention is focused on whether the prosecution's investigation into the 5 Billion Club, which had only made progress regarding former lawmaker Kwak Sang-do, will accelerate following this search and seizure. The 5 Billion Club refers to individuals whom Kim promised to share the profits from Daejang-dong with. They include former Supreme Court Justice Kwon Soon-il, former special prosecutor Park Young-soo, former lawmaker Kwak Sang-do, former Prosecutor General Kim Soo-nam, former Blue House Senior Secretary for Civil Affairs Choi Jae-kyung, and Hong Seon-geun, chairman of the Money Today Media Group.
The prosecution has been tracking funds, considering the possibility that criminal proceeds concealed by Kim flowed to these individuals under the pretext of lobbying. So far, only the investigation into former lawmaker Kwak has progressed. Kwak was indicted on charges of receiving tens of billions of won in bribes from Daejang-dong private developers under the pretext of his son's retirement pay and was fined 8 million won in the first trial. The investigation team is analyzing the first trial verdict, conducting additional investigations, and preparing for the second trial.
Earlier, as public criticism grew when former senior secretary Kwak was acquitted by the court regarding allegations related to his son's retirement pay from Hwacheon Daeyu, the prosecution reinforced the investigation team and prepared for a full-scale investigation into the '5 Billion Club.' In particular, the recent concrete moves by the opposition party to propose a special prosecutor law for the '5 Billion Club' investigation appear to have been a decisive factor in accelerating the timing of the prosecution's compulsory investigation.
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