MB denies charges in corruption trial

By Kang Seung-woo

Former President Lee Myung-bak rejected Monday the prosecution's accusations that he had owned land in southern Seoul, the sale proceeds of which were siphoned off to purchase shares in auto parts firm DAS.

Lee is suspected of embezzling about 35 billion won ($32.7 million) from the company and using the money for political and personal purposes, according to prosecutors.

“I was in a position to purchase more expensive land than that in Dogok-dong,” Lee said during a hearing at the Seoul Central District Court.

Lee added that when Gangnam District was under development, he was in charge of a Hyundai Engineering and Construction project in the area, meaning he could have easily found much better land if he put his mind to it at the time.

“While at Hyundai, I was gaining the confidence of Chairman Chung Ju-yung, and I could have owned more precious land in Gangnam District. During my tenure at Hyundai, I never made any investment in real estate,” Lee said.

Before his arrest in March, the prosecution concluded that the former president owned the land under a “borrowed” name, citing his close aide, who managed Lee's personal assets.

Regarding his suspected DAS ownership, the 76-year-old claims it is his brother's firm, and has taken issue with the government intervening in a family business.

After his first hearing May 23, Lee's lawyers asked the court to make an exception to allow him to selectively attend hearings, citing health problems. The request was rejected.

“The detention center advises me to receive treatment outside, but I am determined to hold up as long as I can stand,” he said.

“If I am treated outside, there might be some negative public opinion that I am receiving special treatment.”

Lee added he is set to aggressively defend himself.

Lee, who was president from 2008 to 2013, is facing 16 charges of corruption, including receiving bribes from businesses and creating a slush fund.

Along with the DAS case, Lee is accused of taking 11 billion won in bribes from the state-run spy agency and various businesses, including Samsung Electronics, between 2007 and 2012,

Lee has become the nation's fourth former president to face a criminal trial for corruption, following Park Geun-hye's indictment in 2017. The other two were Chun Doo-hwan and Roh Tae-woo.

He has denied any wrongdoing and claimed the investigation against him is political retaliation by the liberal Moon Jae-in government for the death of former President Roh Moo-hyun, who committed suicide after becoming embroiled in a corruption investigation under the Lee government.