The prosecution has requested a prison sentence of 3 years and 6 months for former Ssangbangwool Group Chairman Kim Seong-tae, who was indicted on charges of offering bribes worth hundreds of millions of won and sending money to North Korea on behalf of Gyeonggi Province.
Former Chairman Kim Seong-tae of Ssangbangwool Group, who was caught in Thailand while on the run abroad, is returning to Korea through Incheon International Airport Terminal 1. Photo by Kang Jin-hyung aymsdream@
At the sentencing hearing held on the 14th before the Criminal Division 11 of Suwon District Court (Presiding Judge Shin Jin-woo), the prosecution asked the court to issue such a sentence for Kim, who faces charges including bribery, violation of the Political Funds Act, and violation of the Foreign Exchange Transactions Act.
The prosecution stated, "Defendant Kim Seong-tae, hoping for special favors, provided bribes and political funds to former Gyeonggi Province Deputy Governor Lee Hwa-young and was involved in remitting large sums of money to North Korea. He also destroyed evidence related to Lee Hwa-young within the Ssangbangwool Group at Lee’s request."
They added, "Although Kim Seong-tae’s crimes are serious, he showed remorse during the investigation and trial process and voluntarily submitted materials related to the remittance to North Korea. He also actively cooperated with the investigation by confessing to additional crimes, which was taken into consideration when deciding on additional charges related to embezzlement and corporate crimes."
The court separated the charges related to bribery, violation of the Political Funds Act, and violation of the Foreign Exchange Transactions Act, which are connected to former Deputy Governor Lee, from the other charges against Kim, who is being tried separately from Lee. The court concluded the arguments on these charges on this day. The sentencing date for former Deputy Governor Lee is scheduled for the 7th of next month.
Kim Seong-tae has been on trial for over a year since his arrest and indictment in February last year on charges of providing political funds amounting to approximately 334 million won, including bribes of about 259 million won, to former Deputy Governor Lee from July 2018 to July 2022 by means such as providing Ssangbangwool Group corporate cards and vehicles and paying false salaries to associates.
He is also accused of paying 5 million dollars for North Korea’s smart farm support project in Gyeonggi Province and 3 million dollars for the visit expenses of Lee Jae-myung, then Governor of Gyeonggi Province and leader of the Democratic Party of Korea, to North Korea.
In addition, he faces charges of embezzling 53.8 billion won from five unlisted companies (paper companies) established under the names of Ssangbangwool Group executives and employees, and breach of trust for improperly supporting about 1.1 billion won to group affiliates.
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