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Chase for the Inflow of `Pass 21` Funds into the Administration

Chase for the Inflow of `Pass 21` Funds into the Administration

Posted January. 14, 2002 09:33,   


While Pass 21`s large stockholder Yoon Tae Sik is being investigated for illegal lobbying, the Seoul District Prosecutors Office is looking into the possibility of administrative figures receiving Yoon`s money in return for business favors. It announced its thorough investigation on Pass 21`s fund flow on the 13th.

A prosecution authority said, "We are tracking down through wide range investigation of fund transactions of not only Yoon, but of Pass 21 and company personnel." He also added, "But no evidence of high officials` and politicians` involvement related to the fund has been found yet."

According to prosecution authorities, Yoon said that `If the government adopts Pass 21 technology, it would cut down the budget and the money from the business will be returned to the people`. Yoon performed technical demonstrations in 3 governmental departments, including Health and Welfare, through the help of Government Information Agency director, Park Joon-Young (ex- chief presidential press secretary).

After moving his office from Chief Press Secretary office to the Government Information Agency, Park heard from Yoon that `The business was expanding abroad`, and requested employment for a waitress, who was a personal acquaintance, last September.

The prosecution is also investigating whether Grand National Party member Lee Sang-Hee received compensation from Pass 21 personnel helping organize a briefing session in the U.S. Silicon Valley.

The prosecution arrested Kyowon Nara Credit Union president Kim Tae-Jung (50) on the 13th for charge of lending 1 billion won in return for 5000 Pass 21 stocks worth 250 million won.

Also, an executive of an anonymous newspaper company, who received 1000 Pass 21 stocks, cash, and corporate card, is currently being investigated.

By the beginning of the week, the prosecution will issue summons against Kim Young-Loul, president of the Seoul Economic Daily, who has Pass 21 stocks and met with ex- National Intelligence Service director Lee Jong-Chan along with Yoon.

Meanwhile, the prosecution arrested Min Ho-Gi (43), a former reporter at the Maeil Economic Daily, for inexpensively receiving 1300 Pass 21 stocks to create 100 million won worth of profit in return for publicizing articles about Pass 21.

Myoung-Gun Lee gun43@donga.com