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President Kim’s 3rd Son Received 3.6 Billion Won

Posted June. 06, 2002 07:20,   


According to investigation of the prosecutorial authorities, President Kim’s 3rd Son, Hong Gul Kim has received 3,694,000,000 won, from numerous corporations. More then 16,140,000,000 won of in which have been found as graft. Hong Gul Lee was also found to be guilty of tax evasion; currently known amount of outstanding is 2,000,000,000won. Consequently Special Dept. at prosecutorial authorities decided to prosecute Hong Gul Lee on 6 June for tax evasion and receiving graft.

According to Prosecutor’s office, Kim received 66.000 shares of Tiger Pools International, which were worth 1,320,000,000 won at the time. During governments decision to choose the official lottery operator Hong Gul Kim is known to have influenced government to select TPI.

During the investigation Hong Gul Kim is known to have received approximately 5,000,000,000 won from DawWon SCN Corporation, 1,400,000,000 from SungJeon Construction Company both of in which was for Kim’s governmental influence to be favoured for those company. An official at Prosecutor’s office have stated that; Hong Gul used several banking institutions to pay in separately to reduce the amount of tax.

Choi Kyu Sun have managed Hong Gul Kim’s accounts and Prosecutor’s office have confiscated the account book that Choi’s have frequently updated. Although Hong Gul statement says that he was using these funds to for investment, personal cost of living and to redeem his personal loans. It is hard to track down how he has used all the funds due to the fact that he has withdrawn the funds in cash.

Furthermore, Former deputy mayor was also found to be guilty of bribing for law breaking conduct to Kim. Where he asked Choi to stop the further police investigation for Hospital Pharmacy Rebate incident. Former deputy mayor is known to paid 150,000,000 won to Choi and considerable amount of stock options.

Myoung-Gun Lee Sang-Rok Lee gun43@donga.com myzodan@donga.com