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Prosecutors Indicts 13 Newspaper Large Stockholders

Posted September. 05, 2001 08:51,   


Seoul District Prosecutors Office (SDPO) (superintendent Kim Dae-Woong), investigating the `press firm tax evasion case`, indicted yesterday 13 newspapers` large stockholders including former honorary president of the Donga Ilbo Kim Byung-Kwan and president of the Chosun Ilbo Bang Sang-Hoon, and related people of six newspapers, with tax evasion charge. Three, including former honorary president Kim, president Bang, and former president of Kookmin Ilbo Cho Hee-Joon, were indicted with custody, and the rest were without custody. Accordingly the case, which began from June 29 with an accusation by the National Tax Service (NTS), has been completed in about two months.

The SDPO allotted the case to four criminal trial departments.

The SDPO exempted the 3.4 billion won tax evasion case of the Korea Daily Newspaper (KDN). And the SDPO also disclosed that the total amount of tax evasion cases by four newspapers, excluding the Joongang Ilbo, has been decrease by 1.1 billion won.

There has been a 1 billion won difference in the total amount of the gift tax evasion cases by four large stockholders. And five large stockholders were accused with 0.7 ~ 4.5 billion embezzlement cases.

The prosecutors office separately indicted a tax accountant, who had reportedly helped the head of the KDN supporting group to evade tax.

An official of the prosecutors office said, ``Although investigation on other accused cases and the foreign currency outflow cases have not been finished yet, we will continue to verify whether they are illegal.``

Shi Suk-Ho kyle@donga.com