Electoral Fund Balance of Kim Hong-up Causes Stir

President Kim Dae Jung`s second son, Mr. Kim Hong-up, who is vice-Chairman of Kim Dae Jung Peace Foundation for Asia Pacific region, insisted that he lent `balance electoral fund`, that was left from Presidential election in 1997, to his high school mate Mr. Kim Sung-hwan, therefore criticism is rising regarding legal obligation and veracity of the statement.

Advocate of Mr. Hong-up, You Je-in stated on 22nd, “Mr. Hong-up had said that the money that he lent to Mr. Kim Sung-hwan seems to be the money which was left after managing `bright world` (in fact, private company for planning election) in 1997 major election”.

Advocate You said regarding the whereabouts of the money, “the management expenses of `bright world` was met by the money, which Mr. Hong-up`s couple received by selling house, land in Daechi-dong Gangnam-gu, Seoul and from the deposit.

However, Mr. Hong-up who is insisting balance of electoral fund didn`t disclose how much money he lent to Mr. Kim Sung-hwan and his insistence is vague like “I think there might have been balance left out of electoral fund ”.

The prosecution explains that Mr. Hong-up delivered 1.8 billion won to Mr. Kim Sung-hwan since 2001 January, till 2002, January, however it is not identified whether electoral fund balance is included or not.

It said that procedure for cleaning money is such a complicated one and main witness who changed money are refusing their statements, therefore, it couldn`t identify where the money came from.

With regard to insistence which Mr. Hong-up side is saying as `balance of electoral money`, the prosecution estimates that in case the source of money is political fund like balance of election money, he can be excluded from subject of criminal treatment as its arraignment prescription (three years) is over following law of political fund, judged Mr. Hong-up.

However if the money is clarified as balance of electoral fund, there can be big political stir as well as the prosecution will target illegal fund or management.

If it is revealed that Mr. Hong-up arranged funds for major election in an illegal way, according to political fund law it can be treated as crime of bribery or tax evasion.

The prosecution plans to reveal source of money and its nature at any cost weighing on the possibility that it will be connected with suspicion of good offices (7 year arraignment prescription) following the specific Crime Punishment law, without ignoring possibility that balance of electoral fund could be included in fund of Mr. Hong-up.

The prosecution concerned gave a preview that there must be legal obligation in spite of balance of electoral fund, saying “if Mr. Hong-up had made a receipt of received political fund and reported it to Central Election Committee normally, he wouldn`t need to clean money so complicatedly”.

Wi-Yong Jung viyonz@donga.com