Tracing the Money Whether It Flew into the Political Circle

The Seoul District Prosecution summoned Kim Young-Ryol yesterday, who is suspected of making big money through Pass 21 stock transactions and arranged meetings with politicians and government officials for Mr. Yoon.

According to the Prosecution`s investigation, Mr. Kim accumulated over 5 billion won in marginal profits by selling 40,000 stocks out of his 90,000 Pass 21 stocks from the end of 1999 through 2000.

The Prosecution is tracing the money and examining whether it flew into the political and bureaucratic circles.

A related Prosecution`s official said, "Most of the money that he made from the stock transaction seems to have been used for his wife`s wedding business." The Prosecution is also investigating whether Mr. Kim exercised his influence on the publication of articles related to Pass 21.

Mr. Kim met with Lee Jong-Chan, then Chairperson of NIS, Namgoong Seuk and Bae Soon-Hoon, then Ministers of Information and Communication, to explain Pass 21 technology during 1998-99.

The Prosecution also revealed that Rep. Lee Sang-Hee received 2,000 dollars for his travel expenses from Pass 21 when he participated in the business fair of Pass 21 in the Silicon Valley in November 2000.

The Prosecution is also investigating whether Rep. Lee received more money and whether the money was a reward for his support for Pass 21`s participation in the Silicon Valley business fair.

Meanwhile, the Prosecution revealed the plan to indict 70-80 percent of the investigated journalists and reporters but without detention. They are suspected of receiving money and stocks from Mr. Yoon for advertising Pass 21.

Myoung-Gun Lee gun43@donga.com