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Investigation of Former Minister Namgoong Whether He Requested Stocks

Investigation of Former Minister Namgoong Whether He Requested Stocks

Posted January. 22, 2002 09:25,   


The Seoul District Prosecution is investigating Rep. Namgoong Seuk (NMDP), former Minister of Information and Communication, on whether he had requested Pass 21 stocks from Mr. Yoon Tae-Sik.

Mr. Yoon testified that former Minister Namgoong asked him, "How many stocks can I buy for 100 million won?" in November 1999.

The criminal law stipulates that government officials who requested or made a promise for bribery in relation to their duties may be imprisoned up to 5 years or may have their rights suspended up to 10 years.

The Prosecution, however, said that, "According to the testimonies of Mr. Yoon and other related persons, it is not clear whether Mr. Namgoong requested stocks. Mr. Namgoong`s intentions must be clarified."

In response, Rep. Namgoong released a statement, which reads "The allegation that I requested stocks is groundless. The circumstances are not right to talk about the stocks when I met with Mr. Yoon. And the technology certificate requested by Pass 21 was not accepted."

Meanwhile, the Prosecution will request a warrant for Kim Ho-Seung, vice governor of Cheju, for the charge exercising his influence on the supply of the Pass 21 entrance security system after receiving 500 Pass 21 stocks, valued at around 30 million won, from Mr. Yoon in July of last year.

The Prosecution summoned a CEO of a trust bank who may know the details of the delivery of stocks between Mr. Yoon and Mr. Kim.

The Prosecution is also planning to indict 5-8 journalists and government officials among 10 suspects in this week. The indicted person will include those who received stocks for free or at a low price for providing conveniences to Mr. Yoon`s business or for publishing advertisement articles in their newspapers.

Myoung-Gun Lee gun43@donga.com