Former Daewoo CEO Appears to Have Commited Suicide

Nam Sang-kuk, 59-years-old, the former CEO of Daewoo Engineering and Construction Co. and who has been under prosecution investigation for 30 million won in bribes he gave to Roh Geon-pyong, President Roh’s elder brother, in an effort to keep his job at Daewoo, plunged to his death on March 11 at 12:55 p.m. from Hannam Bridge on Han River.

His body has not been found as of late afternoon. The police found his son’s mobile phone underwater, suggesting that he is already dead.

Nam left his home in his wife’s Leganza sedan around 12:00 p.m. after a televised press conference by President Roh. He plunged into the river from the south end of the bridge

Before leaving his residence, he phoned Daewoo’s legal advisory team leader who requested to be identified by his last name Shin and said, “I will put everything on my shoulder. I will park the car in the south of the river. Pick it up.”

After being informed by Shin of the conversation, one of Nam’s lawyers called prosecutor Chae Dong-wook, chief of Special Investigation Department 2, and said, “Nam said he would commit suicide after watching President Roh talking about his rejection of Nam’s request delivered through his brother.”

Chae instructed the prosecutor in charge of Nam’s case to telephone him. He could not reach Nam and notified the situation room of the National Police Agency.

The police found the Leganza sedan which Nam drove to leave his house in the south of Hannam Bridge. Two police patrol boats began to search for his body. His suicide note has not been found yet.

Nam took the helm of Daewoo in late 2000 when the company was under reorganization. He was under prosecution probes in connection with illicit political funds during the presidential elections. His 30 million won in bribes to the president’s elder brother to prolong his stint at Daewoo was unearthed while the prosecution investigated the financial scandal of Min Kyong-chan, a brother-in-law of Roh`s elder brother.

Once found, his body will be placed in the mortuary of Seoul National University Hospital, Daewoo said.

Jin-Kyun Kil Ji-Won Jun leon@donga.com podragon@donga.com