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Prosecutors Allege Kim Hyun-chul Received Billions of Won

Prosecutors Allege Kim Hyun-chul Received Billions of Won

Posted September. 06, 2004 21:51,   


The Seoul Central District Public Prosecutors’ Office arrested and is questioning Kim Ki-sup, former administration deputy general manager of National Security Planning Agency, for allegations of handing billions of won last year to Kim Hyun-chul, second son of the former president Kim Young-sam, after receiving the money from Cho Dong-man, former vice president of Hansol Group.

The prosecution raided the residence of Kim Ki-sup, obtained related documents, and banned Hyun-chul from traveling abroad.

According to the prosecution, Kim Ki-sup allegedly received billions of won from Cho last year and handed it over to Kim Hyun-chul, who was then preparing for the general election.

A related official in the prosecution said, “Cho told us that it was political funds, but Kim is denying that,” adding, “We need to investigate further into the characteristics of the money.”

The prosecution plans to summon Kim Hyun-chul soon and will investigate how and why he received the money.

The prosecution is presuming that Cho gave the money as political funds to Kim Hyun-chul, who was preparing for the general election, but it is also suspecting that the money might be related to his secret funds that were revealed during the investigation into a bribery scandal in 1997.

At that time, Kim Hyun-chul had collected leftover funds from the presidential election, congratulatory money, and bribe money for favors. He then entrusted separately a total of five billion won and another two billion won in May 1994 and February 1995, respectively, to Kim Ki-sup for the money management.

Later, Kim Hyun-chul said that he had the money returned to him without any interest and spent it on fine surcharges, taxes, and donations to welfare organizations.

However, a close aide of Kim Hyun-chul claimed, “I heard that he had received about one billion won in the summer of 2002 until late 2003 from Kim Ki-sup as interests for seven billion won that was entrusted to Kim.”

Kim Ki-sup was sentenced to serve five years in prison at his first trial related to the so-called Ahn Bribery Scandal, but was recently found innocent by an appeals court.

Jin-Young Hwang buddy@donga.com