Allegations Swirl Around Secret Fund at Hyundai Asan

The department of central investigation at the Supreme Public Prosecutors` Office said Thursday that it would continue to investigate allegations that Hyundai had a secret fund in addition to the 15 billion won it sent to North Korea, even though Kim Yeong-wan, the man responsible for laundering the 15 billion won, is not expected to return to Korea until August 9. The prosecution is mulling over a plan to summon politicians alleged to be involved in Hyundai`s secret fund from the middle of next week at the earliest.

The prosecution is also investigating the possibility that Kim Yeong-wan was involved in the money laundering of the additional secret fund as well as the 15 billion won.

An official at the prosecutors` office said that Kim also played a part in raising the secret fund in addition to the 15 billion won, indicating that the prosecution has secured enough evidence to pursue the case.

The prosecution is believed to have secured a good deal of evidence on how the additional secret fund was handed over to certain politicians around the country`s general election on April 13, 2000.

High ranking officials at Hyundai, including the president of Hyundai Asan, Kim Yun-Kyu, have admitted to the raising of the secret fund. They are said, however, to have denied allegations that the money was given to any politicians. President Kim Yun-Kyu was summoned to the prosecutor`s office in connection to this until the death of the company`s late chairman Chung Mong-hun.

Meanwhile, the prosecution plans to summon the former minister of culture and tourism, Park Ji-won, within the month to find out what happened to the 15 billion won that late chairman Chung Mong-hun stated he gave the former minister.

Wi-Yong Jung viyonz@donga.com