Suspicions of External Pressure on Lee Hyung-Taek`s Treasure Ship Excavation

Special Prosecutor Cha Jeong-Il is focusing his investigation on the suspicion that Mr. Lee Hyung-Taek invested 50 million won in the treasure ship project and exerted pressure on related organizations for the reward of 15 percent profit.

The Special Prosecution team (SP) took depositions about the circumstances surrounding the contract from three excavators including Mr. Oh. They reportedly said, "Mr. Lee Hyung-Taek promised to get the support of related organizations for the treasure ship project."

SP also found considerable evidence about how Mr. Lee`s share was hidden in Mr. Oh`s share during the process of making the contract.

Hence, SP will investigate Mr. Lee Hyung-Taek on whether he received bribes for the exertion of his influence on the Financial Supervisory Commission for stock market manipulation and on why he hid his share and the contract.

A related official of SP said, "SP will summon Mr. Lee soon to verify his function in the treasure ship project. We are accessible to Mr. Lee now."

SP decided to summon former Kunsan Branch Prosecution General Lee Deok-Shin today and the other investigators of the Lee Yong-Ho Gate in May 2000 one by one to investigate whether they were solicited or pressured from outside elements.

SP also decided to summon three prosecutors who are suspected to have leaked the information of the investigation.

Meanwhile, 30th criminal division of the collegiate court (chief judge, Oh Se-Rhip) rejected Shin Seung-Hwan`s appeal to be investigated without detention.

SP is also searching for a woman who is suspected to have a floppy diskette which has the secret accounts of Mr. Kim Young-Joon (imprisoned), former owner of Daeyang Trust and Financing Co. Ltd.