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Lawmaker Named in Land Sale Scandal

Posted May. 18, 2006 03:00,   


Investigating the Danguk University-owned Hannam-dong land sale scandal, prosecutors found out on May 17 that Kim Jong-ryul, a Uri Party lawmaker, received 100 million won under the name of consulting fee from each of two business enterprises interested in purchasing the land when he was a professor in the same school and served as chief of its law office.

Seoul Central District Public Prosecutors’ Office secured a statement from someone concerned that Kim, a lawyer at that time, demanded the consulting fee, saying he would help Gang, the arrested representative of one of the two business enterprises under investigation, to purchase the land at a low price.

The prosecution verified the bribe from Gang was deposited in the account of a lawyer from the Lee International Firm whose representative lawyer was Kim at that time. A total of 50 million won was sent to Kim’s sister’s bank account from the deposit.

The prosecution is investigating the lawyers of Lee International because Kim denied his involvement in the scandal when he was questioned on May 15.

The prosecution has reportedly seized a note saying, “Ask Kim for consulting in the land sale” from Danguk University and secured a statement that Kim directed the whole process of selling the land.

With this evidence, the prosecution is going to summon and investigate Kim on a charge of malfeasance in office since he received the consulting free from the business enterprises with conflicting interests.

The prosecution is also investigating Kim’s involvement in the sale of Danguk University-related bonds of 85 billion won held by the Korea Deposit Insurance Corporation (KDIC), one of the institutes under the supervision of the National Assembly’s Finance and Economy Committee that Kim served as a member.

Kim reportedly made an agreement with the same company that it should give him two billion won for providing consulting about how to purchase the KDIC’s bonds for underbid prices.

A source in the KDIC is known to have stated that Kim asked him to bring related documents so he visited Kim at the National Assembly at the end of last year. However, Kim has claimed his innocence on these charges.