By Park Si-soo
Staff Reporter
Hired thugs broke into the office of the educational foundation in central Seoul, taking away computers and office equipment, Sunday in a family feud involving the only son and two daughters of the late President Park Chung-hee.
Around 9:40 p.m. Sunday, nearly 50 gangsters invaded the head office of the non-profit foundation in Gwangjin, Seoul. Police said some of them took away several computers and documents from the office, while the others blocked entry to the foundation's staff. The remaining people voluntarily dispersed Monday morning following a nine-hour confrontation.
Park's children have been engaged in a fresh round of disputes over trillions of won worth of inherited property.
The family feud centers on the Yookyoung Foundation, which oversees welfare and educational business. The total interest involving these and other real estate businesses is estimated at about 3 trillion won ($2.3 billion).
Among the three children is Rep. Park Geun-hye, 56, of the governing Grand National Party, who served as chairwoman of the party in 2006. She had to hand over management control of the foundation to her younger sister Geun-ryung in 1990, taking responsibility for poor management of the foundation.
However, the younger daughter was ordered to step down as the chairwoman of the board after foundation officials were engaged in illicit practices. In defiance, Geun-ryung filed a suit against the government order. However, she had to quit the post in May as the Supreme Court ruled against her.
After the ruling, the court appointed nine executives to the board. However, it was found later that they were all recommended by the former president's youngest and only son Ji-man.
Realizing that Ji-man is virtually taking control of the foundation the younger daughter is strongly resisting the move, triggering a fresh feud between Geun-ryung and Ji-man.
Police are tracing their identities and the purpose of the illegal raid. Police have speculated that new board members, with support from Ji-man, hired gangsters to threaten current staff members employed by Geun-ryung.
The foundation was established in 1969 and named after the former first lady Yook Young-soo. It runs child welfare facilities, a children's orchestra and several recreation facilities. Its head office in Seoul, on 132,000 square meters of land, is valued at three trillion won. Unless the feud is ended soon, the government is expected to appoint a trustee to run the non-profit foundation.