The second round of the Daejang-dong investigation begins… Investigation into ‘5 billion club’ begins in earnest

On the 17th, as the prosecution launched a forced investigation against former lawmaker Kwak Sang-do (62), the investigation into the Daejang-dong development lobby and preferential treatment began in the second round.

Prosecutors, who have been devoting their efforts to uncovering the breaches of private contractors, have set the key for the investigation around the time of indictment of key figures such as Kim Man-bae (57), the major shareholder of Hwacheon Daeyu, and Nam-wook (48), the owner of Cheonhwa Dongin No. It looks like it’s cracking with

The investigation team in charge of the Seoul Central District Prosecutors’ Office (Team Leader Kim Tae-hoon, 4th Deputy Prosecutor) sent prosecutors and investigators to Kwak’s home in the morning to conduct a search and seizure until 1 pm. It has been more than a month and a half since Kwak’s resignation bill was passed at the National Assembly plenary session on the 11th, and since the house of his son Byeong-chae (31) was raided on the 1st of last month.

It is analyzed that the reason why the prosecution raided Kwak’s home on the same day was because additional evidence and statements to prove Kwak’s allegations were secured during the recent investigation into those involved.

Last month, the prosecution secured a statement to the effect that former lawmaker Kwak prevented the bankruptcy of the Hana Bank consortium during the investigation of key figures, including Kim Man-bae, former Money Today legal team leader, Nam Wook, and Hana Bank officials. Prosecutors have suspected that Kwak received 5 billion won through his son in return.

However, the investigation into allegations of political lobbying, including former lawmaker Kwak, was postponed to a lower priority because of the focus on the investigation into allegations of breach of trust by Kim and others involved.

The prosecution, who took a breather after arresting Mr. Kim and lawyer Nam on the 4th, recently re-investigated Mr. Kim and lawyer Nam, and it is known that they focused on the question of former lawmaker Kwak. An executive at Hana Bank was also recently summoned to investigate. In the process, additional clues were secured to consolidate the charges against former lawmaker Kwak, leading to a search and seizure that day.

Prosecutors are expected to analyze the confiscated material secured on the day and call the relevant persons in turn for investigation.

Starting with the investigation of former lawmaker Kwak, the investigation into the so-called ‘5 billion club’ that he received or promised to receive a large amount from Hwacheon Daewoo and the lobbying of the legal and political circles is expected to speed up the investigation. Former Special Prosecutor Park Young-soo, who appears on the “5 Billion Club” list, and former Supreme Court Justice Kwon Soon-il, who is suspected of a trial transaction, are the first to be investigated.

Investigations into the allegation of political lobbying are also underway in earnest by the police.

The Gyeonggi Southern Police Agency’s investigation team (team leader Song Byeong-il) raided the home of former Seongnam City Council Chairman Choi Yoon-gil and the Hwacheon Daeyu office on the same day. Former Chairman Choi, who led the establishment of Seongnam Province, is currently serving as an executive at Hwacheon Daeyu.

The police also called Yuhan-ki, former head of the development business division of the corporation (currently the president of Pocheon Urban Development Corporation) the day before for investigation. Former general manager Yoo is suspected of receiving 200 million won from private contractors in Daejang-dong. He is also known as the person who pressured Hwang Moo-seong, the first president of the construction company, to resign.

As the police and prosecutors took charge of the characters in the suspicion of Daejang-dong and speeded up the investigation again, there are observations that it seems to have nothing to do with the presidential election schedule. Analysts believe that the longer the investigation is delayed, the more political controversies and voices criticizing the prosecution will grow.

In fact, the prosecution and police working-level team held a second meeting on the 15th and decided to divide the scope of the ongoing investigation into several branches and focus their investigative powers on each. However, an official from the prosecution said, “Consultation on the specific investigation target has not been completely completed.”


[ⓒ 세계일보 &, 무단전재 및 재배포 금지]

Source: 세계일보 by

*The article has been translated based on the content of 세계일보 by If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!