Investigation into Export-Import Bank over 'Cambodia Economic Cooperation Allegations'
Heerim, 'Covana Contents Sponsor,' Also Subject to Search and Seizure
On July 21, the special prosecutor team led by Min Jungki, which is investigating allegations related to Kim Keonhee, launched a compulsory investigation into the Export-Import Bank of Korea and Heerim Architects & Planners (Heerim). The investigation aims to examine the possible links between the Cambodia official development assistance (ODA) project promoted during the Yoon Sukyeol administration and the so-called 'Geonjin Buddhist Monk solicitation allegations.'
Former President Yoon Sukyeol and Kim Geonhee are talking inside a car as they leave the presidential residence in Hannam-dong, Yongsan-gu, Seoul on April 11, 2025. Photo by Yoon Dongju
On this day, the special prosecutor team dispatched investigators to the headquarters of the Export-Import Bank of Korea in Yeouido, Yeongdeungpo-gu, Seoul, to secure files and other materials from computers, in connection with the Economic Development Cooperation Fund (EDCF) support for Cambodia during the previous Yoon Sukyeol administration.
The Export-Import Bank of Korea is the institution entrusted by the Ministry of Economy and Finance with the operation and management of the EDCF.
During this period, allegations arose that the Unification Church, through Jeon Seongbae, known as Geonjin Buddhist Monk, delivered a Graff diamond necklace worth 60 million won and two Chanel bags worth 10 million won each to Kim Keonhee, in an attempt to solicit business contracts. The special prosecutor team is also investigating circumstances suggesting direct involvement by Yoon Youngho, the former global headquarters chief of the Unification Church, who was regarded as the second-in-command at the time. In November of the same year, former President Yoon Sukyeol and his wife made an official visit to Cambodia.
The special prosecutor team is expected to examine whether there was any solicitation or external pressure involved in the government's June 2022 decision to significantly increase the EDCF support limit for Cambodia from $700 million to $1.5 billion.
The special prosecutor team is also conducting a search and seizure at Heerim, which is known to have participated in bidding for the ODA project. Heerim sponsored Covana Contents, operated by Kim Keonhee, and was also responsible for the design of the presidential residence relocation after Yoon Sukyeol's inauguration. The special prosecutor team is reportedly investigating possible links between Heerim and the 'Geonjin Buddhist Monk solicitation allegations.'
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