Prosecution Begins Seizure of Assets from Three Daejang-dong Private Business Operators

Asset Seizure Begins for Kim Manbae, Jung Minyong, and Yoo Donggyu Convicted in First Trial

The prosecution has begun procedures to seize the assets of private business operators who were convicted in the first trial over the Daejang-dong development corruption case.

A flag fluttering in front of the Central District Prosecutors' Office. Provided by Yonhap News

On February 4, the Seoul Central District Prosecutors' Office announced that, following the first-instance ruling imposing forfeiture amounts on defendants in the Daejang-dong development corruption case, it has begun seizing foreign-made vehicles and various claims held in the names of Kim Manbae, Jung Minyong, and Yoo Donggyu.

The prosecution explained that, in order to promptly recover criminal proceeds, it carried out this seizure based on the court's provisional payment order, which allows execution even before the judgment becomes final and conclusive, separately from the existing confiscation and preservation of forfeiture measures.

Previously, the prosecution had taken preservation measures for forfeiture on 125 billion won that it deemed to be criminal proceeds from Kim. However, in the first-instance judgment delivered in November last year, the court ordered forfeiture only on 42.8 billion won related to breach of duty in the course of work and 1.65 million won related to violations of the Improper Solicitation and Graft Act. In response, Kim has submitted an application to the court requesting cancellation of the existing confiscation and preservation of forfeiture disposition.

In the first trial, Yoo Donggyu was sentenced to pay a total forfeiture amount of 800 million won, consisting of 500 million won related to breach of duty in the course of work and 300 million won related to bribery under the Act on the Aggravated Punishment of Specific Crimes. Jung Minyong was sentenced to pay forfeiture of 3.72 billion won in connection with bribery charges under the same Act.

The prosecution sent them two separate demands to provisionally pay the forfeiture amounts, but when payment was not made within the deadlines, it sent a notice of compulsory execution on February 2 and on this day began full-scale seizure measures.

No forfeiture was imposed in the first-instance ruling on attorney Nam Wook and accountant Jung Younghak, who were the first to promote the Daejang-dong project.

The prosecution stated, "We will continue to take all possible legal actions to ensure that there are no shortcomings in recovering criminal proceeds related to the Daejang-dong development corruption case."