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Hot Pursuit with Samsung’s Accounting Document Secured

Posted November. 20, 2003 22:53,   


It was reported on November 20 that regarding the presidential election fund of Samsung, the central investigation team of Supreme Public Prosecutor’s Office (Ahn Dae-hee, chief public prosecutor) was submitted related materials, including the accounting documents of Samsung and is currently analyzing them thoroughly.

During the prosecution’s investigation, Samsung has been found to have supported the Millennium Democratic Party (MDP) with expedient fund of 300 million won in the name of three present and former presidents of Samsung units before the last election, and Lee Hak-su, chief restructuring official, has been banned from leaving the country.

The prosecution will summon So Byong-hae, former advisor of Samsung Fire, An Bok-hyon, president of Cheil Industries, and Lee Dae-won, former vice-president of Samsung Heavy Industries and will investigate on the circumstances of fund offerings and the illegality and source of the fund upon completing the examination of the document.

The prosecution has confirmed Hyundai Motor’s expedient offering of 900 million won in the name of executives and is investigating closely on the circumstance of delivering the fund and its illegality.

The prosecution revealed that Hyundai Motor offered the Grand National Party (GNP) financial support of 1.2 billion won, with 300 million won in the name of the legal entity and the remaining 900 million won in the name of 24 unit executives.

The prosecution corroborated that the 900 million won was transferred into the account of GNP supporters’ association after it reviewed the receipt of an unfixed amount, and is planning to summon members of the supporters’ association, including Na Oh-yeon, president of the association of central GNP.

Hyundai Motor Group has been found to have offered 660 million won in the name of 20 executives out of the total of one billion won in financial support to Roh Moo-hyun camp, candidate of Millennium Democratic Party.

The prosecution confirmed that Kim Seong-cheol, president of Chamber of Commerce and Industry, who was summoned on November 19 had offered Choi, the former president aide, 100,000 won. The prosecution seized the company funds and booked him without physical restraint.

Kim returned home late this day. His penal punishment level will be decided later with his accomplices.

“Kim provided some portion of the company building without charge. It would be 40 million won if the profit of the counterplan committee of election of MDP in Busan gained is calculated into money.” and “Financial support provided to GNP has not yet decided whether or not it is illegal,” said Moon Hyo-nam, director of investigation planning of Supreme Public Prosecutor’s Office.

The prosecution will summon Kang Keum-won, president of Busan Chang-shin Textile, and Seon Bong-sool, former representative of Changsucheon, and investigate them.

Tae-Hoon Lee Jin-Kyun Kil jefflee@donga.com leon@donga.com