The prosecution has launched a forced investigation into former media executives who conducted large financial transactions with Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management.
The Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kang Baek-shin) is conducting a search and seizure at the residences of three former media executives on the morning of the 18th on charges including breach of trust and bribery involving large sums of money received from Kim.
Kim Man-bae, major shareholder of Hwacheon Daeyu Asset Management. Photo by Kang Jin-hyung aymsdream@
The targets of the prosecution's search and seizure on this day are known to be former executives of Hankyoreh Newspaper, Hankook Ilbo, and JoongAng Ilbo, who were previously involved in controversies over illicit financial transactions with Kim.
Former Hankyoreh Newspaper executive A reportedly received 900 million won from Kim several times between 2019 and 2020. Former Hankook Ilbo executive B borrowed 100 million won from Kim, and former JoongAng Ilbo executive C lent 80 million won to Kim and received 90 million won back the following year, with a total of 190 million won exchanged between them.
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