Opposition party concentrates on FSS bribery scandal

The opposition Grand National Party Tuesday raised suspicions about the roles of influential ruling camp figures in the alleged illegal loan and bribery scandal involving Dongbang Mutual Savings and Finance Co. and the government financial watchdog.

GNP lawmakers also alleged that some leading members of the ruling camp were involved in the manipulation of the over-the-counter KOSDAQ market during a parliamentary inspection of the Financial Supervisory Commission(FSC) and Financial Supervisory Service(FSS) at the Political Affairs Committee of the National Assembly.

Rep. Lee Bu-Young of the GNP claimed that people close to those in power are leading ``operations¡± prevalent in the KOSDAQ market to raise stock prices illegally.

He also said there were rumors that profits from investments in the over-the-counter market have been used as political funds. About 10 ruling camp figures have been talked about in connection with the stock trading of some companies, he added.

Rep. Chung Hyung-Keun also said there are suspicions that a trust and investment firm and a fund mobilized 10 billion won of pensions and funds with the help of influential figures in the ruling camp and that a certain securities company is backed by another leading ruling party figure.

He added that Chung Hyun-Jun, president of Korea Digital Line and a prime suspect in the illegal loan and bribery scandal, was already investigated by the Sajikdong Team, a special police investigation unit under the direct control of the presidential office, in early October.

Rep. Uhm Ho-Sung said that an unpublicized audio-taped record of the FSS¡¯s investigation of a company in Taegu confirmed the collusion between political figures and businessmen, and released the document.

In response, FSC Chairman Lee Keun-Young said he knew nothing at all about the alleged collusion between government officials, politicians and businessmen. He said only that the FSC gave a free contract worth 21 million won to Web Eye, which Korea Digital Line took over, for the development of the FSC¡¯s information system for integrated examination, since the company has experience in developing the insurance examination system.