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Dongbu Chairman Kim Joon-ky Faces Summons

Posted April. 28, 2004 21:16,   


The Central Investigation Department of the Supreme Public Prosecutor’s Office summoned Dongbu Chairman Kim Joon-ky yesterday and questioned him on suspected insider transactions of his company and his alleged providing of illegal political funds.

The prosecution particularly focused on whether what Kim’s purchase of 250,000 shares of Dongbu World last year, an affiliated golf course management company, at a price of one won each can be regarded as a case of insider trading, and questioned whether Kim furnished illegal political funds to the ruling or opposition parties during 2002 presidential election campaigning.

The prosecution also summoned Song In-bae, who ran in the 17th general election as a candidate of the Uri Party in Kyeongnam-Yangsan district but failed, and questioned whether Song received a 50 million won illegal political donation from Kang Keum-won, a textile company owner and a supporter of President Roh Moo-hyun. The former president of students at Pusan National University, Song worked for President Roh Moo-hyun as secretary when he was serving in the Ministry of Maritime Affairs and Fisheries.

Moon Hyo-nam, a senior prosecutor of the Supreme Public Prosecutor’s Office, said, “If this suspicion is proven, we will decide on the level of punishment with consideration of other penalized politicians due to their charges in accepting illicit political funds from companies such as Sun & Moon Group,” insinuating that Song may face indictment without physical detention, or informally indicted. Meanwhile, because Rep. Rhee In-jeon (United Liberal Democrats) rejected an arrest warrant again, the prosecution has decided to force him to attend by reissuing an arrest warrant today. According to the prosecution, Rhee is suspected to have received 250 million won from the opposition Grand National Party through Kim Yoon-soo, his public relations secretary at that time, in early December of 2002

In response to the allegations, Rhee posted on his homepage his “Position on the Summons from the Prosecution,” in which he contended: “I am completely clean and have no guilty feelings at all. I will never walk to the prosecution and if they force me, I will not say anything about it. The court, I strongly believe, will prove that I am innocent.”