Prosecution should conduct thorough probes immediately
A scandal over alleged favoritism in a land development project in Seongnam, Gyeonggi Province is escalating. The affair will likely become a major issue in the upcoming presidential election as it affects both the ruling and opposition parties. Numerous figures from the political, judiciary and business sectors are involved in the scandal including Gyeonggi Province Governor Lee Jae-myung, now the leading presidential contender of the ruling Democratic Party of Korea (DPOK), who initiated the project when he was mayor of Seongnam City.
The "money spree" by the asset management company Hwachoen Daeyu has triggered extreme public anger. For starters, the son of Rep. Kwak Sang-do of the opposition People Power Party (PPP) received 5 billion won ($4.22 million) in severance pay from Hwacheon Daeyu. Such a sum is more than just excessive as he only worked at the firm ― in his first job ― for six years as a rank-and-file employee.
The asset management firm also allegedly offered the same amount of money to each of five other influential figures apparently to curry favor with them. Investors in the Hwacheon Daeyu and its relevant subsidiaries collected dividends equivalent to more than 1,000 times their investment.
Former ranking judges and prosecutors have also come under criticism for having allegedly received huge amounts of money from the company including former Chief Justice Kwon Soon-il who collected 15 million won per month. The daughter of former special counsel Park Young-soo, who investigated ex-President Park Geun-hye's corruption case, was allegedly given a special favor that allowed her to purchase an apartment owned by the company for 700 million, although its price now is more than 1.5 billion won.
Suspicions have grown over the company spending more than 400 million won for entertainment purposes around the general election last year, although it only has 10 employees. Despite the ever growing public wrath and the seriousness of the alleged favoritism scandal, the law enforcement authorities have failed to carry out any full-fledged investigation into the case, maintaining a lukewarm approach.
The prosecution needs to set up a special team to conduct a thorough investigation and if necessary should confiscate data and material. Justice Minister Park Beom-kye earlier cited the need for the prosecution to look into the scandal swiftly and fairly. Yet, Prosecutor General Kim Oh-soo is taking flak for having maintained a tepid attitude over the matter.
This is in contrast to the time that he ordered a comprehensive probe into the allegation that former Prosecutor General Yoon Seok-youl, now a leading presidential aspirant of the PPP, "nudged" some PPP members to file a lawsuit against ruling party figures. This is the reason why Kim cannot avoid criticism for being politically inclined. Ahead of the crucial presidential election in March next year, the prosecution should undertake relentless efforts to get to the bottom of the scandal and put an end to the current national anger.
A scandal over alleged favoritism in a land development project in Seongnam, Gyeonggi Province is escalating. The affair will likely become a major issue in the upcoming presidential election as it affects both the ruling and opposition parties. Numerous figures from the political, judiciary and business sectors are involved in the scandal including Gyeonggi Province Governor Lee Jae-myung, now the leading presidential contender of the ruling Democratic Party of Korea (DPOK), who initiated the project when he was mayor of Seongnam City.
The "money spree" by the asset management company Hwachoen Daeyu has triggered extreme public anger. For starters, the son of Rep. Kwak Sang-do of the opposition People Power Party (PPP) received 5 billion won ($4.22 million) in severance pay from Hwacheon Daeyu. Such a sum is more than just excessive as he only worked at the firm ― in his first job ― for six years as a rank-and-file employee.
The asset management firm also allegedly offered the same amount of money to each of five other influential figures apparently to curry favor with them. Investors in the Hwacheon Daeyu and its relevant subsidiaries collected dividends equivalent to more than 1,000 times their investment.
Former ranking judges and prosecutors have also come under criticism for having allegedly received huge amounts of money from the company including former Chief Justice Kwon Soon-il who collected 15 million won per month. The daughter of former special counsel Park Young-soo, who investigated ex-President Park Geun-hye's corruption case, was allegedly given a special favor that allowed her to purchase an apartment owned by the company for 700 million, although its price now is more than 1.5 billion won.
Suspicions have grown over the company spending more than 400 million won for entertainment purposes around the general election last year, although it only has 10 employees. Despite the ever growing public wrath and the seriousness of the alleged favoritism scandal, the law enforcement authorities have failed to carry out any full-fledged investigation into the case, maintaining a lukewarm approach.
The prosecution needs to set up a special team to conduct a thorough investigation and if necessary should confiscate data and material. Justice Minister Park Beom-kye earlier cited the need for the prosecution to look into the scandal swiftly and fairly. Yet, Prosecutor General Kim Oh-soo is taking flak for having maintained a tepid attitude over the matter.
This is in contrast to the time that he ordered a comprehensive probe into the allegation that former Prosecutor General Yoon Seok-youl, now a leading presidential aspirant of the PPP, "nudged" some PPP members to file a lawsuit against ruling party figures. This is the reason why Kim cannot avoid criticism for being politically inclined. Ahead of the crucial presidential election in March next year, the prosecution should undertake relentless efforts to get to the bottom of the scandal and put an end to the current national anger.
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