Suspicions about Huge-scale Money Laundry

Rep. Goh Heung-Gil (GNP) argued that “Kim Seung-Hwan, an aide of Kim Hong-Up, the second son of President Kim Dae-Jung, is suspected of having committed money laundry of a huge amount of political funds, utilizing his Cable TV company.

Rep. Goh raised such suspicions at the Culture and Tourism Committee of the National Assembly, saying “Mr. Kim carried out money laundry by using the accounts under the names of his employees of G company in September last year. And it concurred with the sales in lots for the Baekgung-Jeongja area in Bundang, concerning which suspicions about preferential policies to convert the purpose of land use was raised.”

He added that “there are many rumors that Mr. Kim controlled the Satellite Broadcasting business by intervening into many profitable business in relation to the selection of Satellite broadcasting business and he is also raising a huge amount of political funds through his business including constructions and private loan business”

However, the company G denied the suspicion, saying “Mr. Kim has nothing to do with this company now, and the rumor that the company committed money laundry under the order of Mr. Kim is groundless.”

Jeong-Hun Kim jnghn@donga.com