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Search and Seizure Investigation of Hyundai Capital Services

Search and Seizure Investigation of Hyundai Capital Services

Posted November. 27, 2003 22:59,   


Ahn Dae-hee, a senior prosecutor heading the illegal presidential campaign funds investigation by the Central Investigation Bureau at the Supreme Public Prosecutor`s Office, began a search and seizure investigation of the head office of Hyundai Capital Services Inc. on Youido-dong in Yeongdeungpo-gu Seoul, on November 27.

The prosecution summoned three senior executives of the company, including vice-president Chung Suk-soo, to investigate their involvement in illegal campaign fundraising. It is also considering summoning chairman Lee Kye-Ahn of Hyundai Capital Services Inc.

“We simultaneously summoned senior executives and conducted a search and seizure investigation in order to verify whether Hyundai Capital Services Inc. contributed funds to the Millennium Democratic Party and the opposition Grand National Party (GNP) from the Hyundai Motors Group,” said one member of the prosecution team.

The prosecution dispatched about twenty investigators to the Hyundai Capital Services building at 11:00 a.m. this morning and seized electronic records along with ten large boxes of accounting records from the office of financial affairs on the 10th floor.

Meanwhile, the prosecution confirmed suspicions that chairman Kang Byoung-Jung of Nexen Corporation and PSB Pusan Broadcasting contributed several billion won in illegal funds to the ruling and opposition party during last year’s presidential election. After the presidential election, he handed over several hundred million won to Choi Do-sul, a former close aide to President Roh. The prosecution plans to resummon chairman Kang, who returned home on November 26, to continue the investigation and move into the punishment phase of the case.

In addition, the prosecution will summon Rep. Choi Don-woong and Rep. Kim Young-il of the opposition Grand National Party again for questioning in the middle of the next week. It also has decided to summon both Rep. Chung Dae-chul and Rep. Lee Sang-soo of the Uri Party.

In further developments in the Hyundai illegal campaign funds case, the prosecution is expected to decide on the criminal responsibility of Rep. Park Joo-chun and Rep. Im Jin-chul of the opposition Grand National Party, Rep. Park Joo-sun and Rep. Lee Hoon-pyoung of the Millennium Democratic Party, and Park Gwang-tae, the mayor of Gwangju, during the next few weeks.

The prosecution has also decided to summon Rep. Kim Deok-ryong of the opposition Grand National Party to investigate his possible involvement in the case of National Intelligence Service election funds.

Wi-Yong Jung Jin-Kyun Kil viyonz@donga.com leon@donga.com