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[Editorial] `Bribe` Which Was Given with Interest

Posted April. 04, 2002 08:52,   


Suspicion surrounding Kim Dae-Jung peace foundation for Asian Pacific Region (PFAPR), which President Kim Dae Jung and coterie of vice president Kim Hong-up established, is continuing unceasingly.

Scandal of stock investment in Pyongchang information and communication that was revealed amidst all suspicion is a new example, which shows how corrupt people close to power are.

If Lee Soo-Dong, former executive director of PFAPR and Mr. Kim Hong-up invested in stocks of Pyongchang IT only for the purpose of investment, which they insist, then it wouldn`t have been a problem according to law.

Nevertheless, the reason why this second scandal causes indignation of the general public is because of its terrible ways of preventing loss and privileged opportunity for investment to only who are close to power.

The stock price of this company rose to a maximum of 70,000 won before registering in KOSDAQ, however it was provided to them at 10,000 won per one share.

It is natural that such opportunity was not provided to general people publicly.

In addition, to pay back invested money with interest when the stock prices dropped down suddenly is an obvious privilege and bribe which can`t be explained by any reason.

Imagine, if a company is prosperous, investors will earn money and if a company is in loss the company would repay the money with interest, then would there be anyone who can`t earn money.

In year 2000, which is the background of this scandal, one third of our people experienced that they invested money buoyantly in venture boom that was lead by government, and lost money as the stock prices dropped down suddenly.

One person committed suicide despairing the loss of 90 percent of his money which was invested, on the other hand, personnel who are near to power received the invested money with interest.

How can they forgive such a world?

If son of president were not in this foundation, would the preference be provided to them?

Mr. Kim Hong-Up, the second son of president, who didn’t mange his coterie well, so that the personnel`s of foundation were involved in corruption, should take responsibility at first.

In addition, the prosecution should investigate this scandal entirely and punish so that people who are hurt can be comforted at least.