Seongnam City Secures Provisional Seizure of 517.3 Billion Won in Daejang-dong Criminal Proceeds, Including 410 Billion Won from Kim Manbae

Seongnam City Secures Provisional Seizure of 517.3 Billion Won in Daejang-dong Criminal Proceeds
Secures 71.7 Billion Won More Than Prosecutors' Asset Preservation Orders
Announces Three-Pronged Response: "Punishing Abuse of Power, Supporting Citizens' Lawsuits," and More

Seongnam City in Gyeonggi Province (Mayor Shin Sangjin) has secured a provisional seizure order totaling 517.3 billion won against those involved in the Daejang-dong development corruption case, surpassing the amount requested by prosecutors for asset preservation.

Seongnam Mayor Shin Sangjin is holding a press conference at Seongnam City Hall on the 23rd. Photo by Lee Jonggu

On the morning of the 23rd, Seongnam Mayor Shin Sangjin held a press conference at Seongnam City Hall and stated, "So far, the court has approved provisional seizure orders totaling 517.3 billion won," adding, "This amount is 71.7 billion won more than the 445.6 billion won the prosecution requested for asset preservation in the criminal trial."

The city explained that out of 14 provisional seizure and injunction applications filed by Seongnam Urban Development Corporation against four members of the Daejang-dong group on December 1, 12 have been granted, with one dismissed and one still pending.

The approved cases include: ▲ Three cases against Kim Manbae (410 billion won), ▲ Two injunctions and three provisional seizures against Nam Wook (42 billion won), ▲ Three cases against Jung Younghak (64.69 billion won), and ▲ One case against Yoo Donggyu (670 million won).

Seongnam City emphasized that this action was extremely timely. With defendants such as Kim Manbae and Nam Wook recently petitioning the court to lift asset preservation orders in an attempt to recover their assets, Seongnam City proactively secured civil provisional seizures to completely block any attempts to launder or dissipate criminal proceeds.

However, Seongnam City expressed strong regret regarding the decision by the Seoul Southern District Court to dismiss certain claims (such as the 40 billion won claim for Nam Wook's ownership transfer registration right).

The Southern District Court dismissed the application on the grounds that it overlapped with the prosecution's asset preservation order. However, the city argued, "Given that multiple courts, including the Seoul Central District Court and Suwon District Court, have already recognized the necessity of provisional seizure and approved such orders, this decision is difficult to accept." The city added that it filed an immediate appeal on the 19th.

Seongnam Mayor Shin Sangjin is holding a press conference at Seongnam City Hall on the 23rd. Photo by Lee Jonggu

Seongnam City further stated that it "cannot accept" the Seoul Southern District Court's dismissal on the grounds that "since the prosecution has already secured asset preservation, there is no need for the city to pursue overlapping provisional seizures." The city urged the court to swiftly approve the remaining dismissed and pending cases, emphasizing that multiple courts-including the Seoul Central District Court, Suwon District Court, and Seongnam Branch-have acknowledged the urgency and necessity of provisional seizure.

Seongnam City also announced a 'three-pronged response policy' to ensure the complete recovery of criminal proceeds, rather than resting on the success of the provisional seizures.

First, the city pledged to bring figures accused of abusing power, such as Justice Minister Jeong Seongho, to justice. Second, it will focus all efforts on winning the main civil lawsuits beyond the provisional seizures. Third, it will actively support the 'Seongnam Citizens' Lawsuit Group.' Through these three strategies, the city declared its firm commitment to pursue the Daejang-dong case to the end.

A Seongnam City official stated, "We cannot allow society to receive the wrong message that colluding with those in power for a quick windfall will ultimately let you keep the money," adding, "Building on the 517.3 billion won in approved seizures, we will devote all our resources to the main lawsuits to track down and recover every last won."