Prosecutors Raid Korea Venture Investment... Targeting 'Special Hiring Favor for Former President Moon's Son-in-Law'

The prosecution investigating the so-called 'preferential hiring' case, in which Seo Mo, the son-in-law of former President Moon Jae-in, received special favors to be employed as an executive director at Thai Starjet, has launched additional compulsory investigations.

Prosecution Photo by Yonhap News

The Criminal Division 3 of Jeonju District Prosecutors' Office (Chief Prosecutor Lee Seung-hak) is conducting a search and seizure at the Seoul office of Korea Venture Investment on the 16th. The search, which began around 10 a.m., is reportedly being carried out simultaneously with other agencies. The prosecution is seeking materials to clarify allegations of abuse of authority related to the appointment of former Democratic Party lawmaker Lee Sang-jik as chairman of the Small and Medium Business Corporation. Earlier, on the 13th, the prosecution conducted search and seizures at the Ministry of SMEs and Startups, the Small and Medium Business Corporation, and the Ministry of Personnel Management.

Korea Venture Investment, the target of the search on this day, is a fund-of-funds management institution jointly invested by the Ministry of SMEs and Startups and the Small and Medium Business Corporation.

The prosecution is investigating whether there was any quid pro quo between former lawmaker Lee's appointment as chairman of the Small and Medium Business Corporation and Seo's hiring as executive director at Thai Starjet, examining the entire appointment process of Lee as chairman. Additionally, it is reported that the investigation is expanding to determine whether the venture capital related to Seo's previous company received hundreds of billions of won in investment from Korea Venture Investment.