[Editorial] Is the Prosecution Willing to Investigate the Scandal involving Nara Bank?

It is difficult to tell whether the prosecution is carrying out an investigation into allegations that Nara Bank, which received as much as two trillion won of public funds, lobbied to prevent its liquidation. In the Justice Ministry’s briefing, President Roh Moo-hyun ordered probes into the allegations without political consideration and parties concerned showed their willingness to cooperate in the probe. However, the prosecution’s investigation has shown little progress.

The president, who has the right for the appointment of senior prosecutors, should be careful in speaking over scandals related to the president’s close aides or relatives. When he ordered the investigation, he appeared to make no mistakes. However, considering the dynamics between the president and the prosecution, his order could have a negative impact on the prosecution’s probe. As the prosecution was taken aback by the new government’s unprecedented reshuffle, it could not believe the president’s order at face value and rather try to sound his inner thoughts and put on a different spin.

On the other hand, the prosecution’s investigation into the alleged national intelligence agency’s wiretapping is making strides. The chief of the agency’s branch in Gwangju was already arrested. In addition, the progress of the probe into a scandal in which a former senior tax official raised illegal campaign funds for then ruling party candidate Lee Hoi-chan during the 1997 presidential election has become rapid as Lee Suk-hee, former senior tax official, was extradited from the U.S. However, investigation of allegations regarding Nara Bank has been at a standstill since they were raised last August. Moreover, the prosecution has not shown any willingness to carry out the probe since the inauguration of the new government.

According to allegations, for Nara Bank to lobby against the liquidation, it delivered as much as 250 million won to an aide to President Roh Moo-hun in 1999. Now, it is difficult to confirm whether the allegations are true or not. The prosecution says that its investigation is met with difficulties because the chairman of Bosung Group, Nara Bank’s parent company, is denying allegations and the person in charge of delivering the money fled to a foreign country. However, there is something fishy surrounding the prosecution’s late decision to bar the delivery man from departing the nation, thereby letting him leave Korea.

The prosecution’s procrastination in its investigation into the scandal involving Nara Bank is not good for the government and the prosecution itself. The prosecution should get to the bottom with intensive investigation at the early days of the new president’s term of office.