Prosecutors Conduct Search and Seizure on Kim Man-bae over 'False Interview'... Investigating Reporting Circumstances (Comprehensive)

On the 6th, the prosecution investigating Kim Man-bae's 'false interview' related to allegations of a sloppy investigation into illegal loans by Busan Savings Bank conducted a search and seizure of Kim's property.

The Anti-Corruption Investigation Division 3 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baek-shin) sent prosecutors and investigators to three locations, including Kim's residence and Hwacheon Daeyu office, to secure materials on the morning of the same day on charges of breach of trust and violation of the Anti-Graft Act.

Kim Man-bae, major shareholder of Hwacheon Daeyu Asset Management

This comes five days after the search and seizure of former Press Union Chairman Shin Hak-rim on the 1st on suspicion of receiving money after interviewing Kim.

Kim is suspected of conspiring with Shin, who was a specialist at Newstapa on September 15, 2021, to reveal false information in an interview that "Yoon Seok-yeol, then head of the Investigation Division 2 of the Supreme Prosecutors' Office in 2011, covered up the investigation of loan broker Jo Woo-hyung during the Busan Savings Bank investigation."

In the interview, Kim said that when Jo was investigated for the illegal loan case in 2011, "Yoon Seok-yeol said, 'Are you Jo Woo-hyung?' and..." and that "(the chief prosecutor) gave Jo coffee, did a few things, and then let him go," adding, "It worked, he just let him off." The interview was broadcast through Newstapa on March 6 last year, three days before the presidential election.

Kim is also suspected of giving Shin 165 million won as a reward for providing this false interview. Shin claimed that the money was for his book expenses.

Former Press Union Chairman Shin Hak-rim [Image source=Yonhap News]

Based on Jo's statements and others, the prosecution views this interview as 'fake news' aimed at shifting responsibility for the Daejang-dong scandal from Lee Jae-myung, leader of the Democratic Party, to President Yoon Seok-yeol during the presidential election period. The frame was intended to portray that President Yoon, who was the chief prosecutor in charge of the Busan Savings Bank illegal loan investigation, covered it up, and that this loan money became the seed money for Daejang-dong.

In a November 2021 prosecution investigation, Jo stated, "I never met Prosecutor Yoon Seok-yeol at the Supreme Prosecutors' Office Investigation Division." He also said, "Two months after the investigation ended, Prosecutor Park called me for a brief inquiry, gave me a cup of coffee, and asked about the family relations of Busan Savings Bank affiliates. I answered and then went home."

Recently, during an investigation of Jo, the prosecution reportedly secured a statement in which Jo said, "Kim Man-bae told me to say that the person from Cheonhwa-dongin is Yoo Dong-gyu if anyone asks," and "I realized that Kim Man-bae was shifting responsibility onto me after seeing Shin Hak-rim's Newstapa interview report."

It is also reported that Jo gave a statement saying, "In mid-October 2021, Kim called and said, 'My brother will lead this in the wrong direction. After some time passes, he will deny it.'"