By Lee Tae-hoon
Kim Young-wan, a former Korean-American arms dealer who was deeply involved in the creation and illegal transfer of secret funds to North Korea ahead of the 2000 inter-Korean summit, has turned himself in to police after nearly nine years on the run, prosecutors said Friday.
Kim is suspected of having laundered and delivered 15 billion won ($13.3 million) from a Hyundai Group slush fund to Rep. Park Jie-won, a front-runner in the main opposition Democratic Party’s (DP) upcoming leadership race, in 2000.
The Supreme Court acquitted Park of bribery in 2004 for lack of evidence, overruling Seoul High Court’s sentence of a 12-year jail term and a 14.8 billion won fine.
Kim fled the country in March 2003 prior to an investigation into the cash-for-summit scandal, over which Chung Mong-hun, then chairman of Hyundai Asan which acted as a conduit for the money transfer, allegedly killed himself.
An official said prosecutors plan to uncover the truth behind the scandal with the help of Kim, despite the court’s acquittal of Park, who was suspected of receiving bribes and orchestrating a $500-million illegal money transfer to the North.
Any new finding or testimony that confirms Park received bribes in return for helping Hyundai Asan get bank loans and push its projects in the North would deal a severe blow to the former floor leader of the DP.
Park served as presidential chief of staff and culture minister under the late Kim Dae-jung administration, which pursued a policy of engagement and reconciliation with the Stalinist North.
Kim Young-wan is also suspected of having delivered 20 billion won to former DP lawmaker Kwon No-gap, who was found guilty of receiving kickbacks from Hyundai.
The Supreme Court handed him a five-year jail term and a fine of 20 billion won.