Prosecutors Raid Former Daewoo Chief’s Properties

By Park Si-soo

Staff Reporter

Prosecutors raided properties owned by families of former Daewoo Group chairman Kim Woo-choong, Tuesday, to investigate allegations that his aides illegally lobbied government officials and politicians to keep Kim from being jailed for illegal business practices.

The former chairman of the now-defunct Daewoo Group is suspected of having stashed away slush funds in 1999 and part of these funds were allegedly used for illegal lobbying to save Kim from being prosecuted.

Prosecutors have been investigating Korean-American businessman Cho Poong-eon who was implicated in the lobbying. Cho abruptly returned to Korea in March and is now being questioned by the prosecution.

They raided Best Lead Ltd, formerly Daewoo Development, and the Adonis Country Club in Gyeonggi Province and seized documents and computer files. Kim's wife Chung Hee-ja is allegedly involved in the management of Best Lead, while the Adonis Golf Course is run by Kim's second son Sun-hyeop.

pss@koreatimes.co.kr