By Kim Rahn
Prosecutors summoned Min Young-jin, former head of KT&G, Monday for questioning over allegations that he received kickbacks from a subcontractor in exchange for business favors.
Min appeared at the Seoul Central District Prosecutors’ Office in southern Seoul in the morning. When reporters asked if he denied the accusation, he said, “Yes.”
Min allegedly took 100 million won in bribes from a subcontractor of the tobacco maker, including tens of millions of won as a “gift for his child’s wedding.”
An official from the subcontractor has testified to prosecutors that Min was given a luxury watch worth more than 40 million won.
Min denied the allegations, saying he returned the wedding gift money immediately after the wedding.
He is also accused of creating slush funds while taking over and managing a local cosmetics company. He also allegedly asked a lobbyist to ask police to close an investigation into KT&G’s alleged irregularities involving a real estate development project in 2013.
Min resigned in July when the prosecution began the probe.