Prosecution Will Request for Advance Arrest Warrant If Kim Young-Ryol Does Not Appear

The Seoul District Prosecution revealed that it is carrying on a supplementary investigation on the tax evasion of Kim Young-Ryol, former CEO of the Seoul Economic Daily.

The Prosecution is planning to re-summon Mr. Kim but, if he does not appear in the Prosecution`s office voluntarily, it will request for an advanced arrest warrant to the court.

Mr. Kim is suspected to evade the transfer income tax and the donation tax after selling 90,000 stocks of Pass 21 received from Mr. Yoon Tae-Sik for 6.4 billion won.

The Prosecution announced that "Mr. Kim had a considerable amount of stocks under the name of his son and wife and, if he really transferred the stocks to them, he evaded the transfer income tax. Although he profited from the stock selling, he evaded even the donation tax."

The Prosecution also investigated a related official of a security corporation that purchased the Kim`s stocks on the circumstances of the transaction.

The Prosecution said that it "will go through the legal procedure as soon as the evidences to prove his crimes are perfectly ready."

Meanwhile, the Prosecution revealed that the investigation on the Yoon`s usage of 6.78 billion won, which was earned by the sales of 88,000 shares of Pass 21 stocks, but no evidence that the money flowed into the politicians and the government officials was found.

The Prosecution also revealed that it had confiscated a secret list of shareholders that contains the names of the shareholder of Pass 21, but there was no further information on the names of the politicians and the government officials except for the figures already revealed.

Therefore, when no further evidences of Yoon`s lobbyist activities for giving money and stocks to the politicians and the government officials are found, the Prosecution will conduct documentary investigations on selected persons, among the already revealed figures, about the circumstances of their meetings with Mr. Yoon.

Myoung-Gun Lee gun43@donga.com