Kim Yong found guilty of bribery related to Daejangdong project

Kim Yong, former vice president of the Democracy Research Institute, who is also known as the closest confidant of Democratic Party Chairman Lee Jae-myung, has been sentenced to five years of imprisonment with labor for accepting an illegal campaign fund of 847 million won and subject to court custody. The court acknowledged the nexus between private business entities and individuals in a position of power to give authorization with regard to the Daejangdong development project. The credibility of the witness statement provided by Yoo Dong-gyu, former president of Seongnam Urban Development Corporation, played a crucial role in the court’s determination. This decision is anticipated to influence other trials related to the Daejangdong project that share similar points of contention.

The Seoul Central District Court, which held Kim guilty of violating the Political Funds Act, highlighted the corruption involving a close relationship between Kim Yong and Yoo Dong-gyu, a figure of influence at the Seongnam Urban Development Corporation. The court considered bribes in the form of money and valuables exchanged over an extended period in connection with the Daejangdong development project. In addition to the prison sentence, Kim Yong has been fined 70 million won, and 670 million won is set to be confiscated and collected.

Kim was accused of corruption charges that involved bribery accusations related to the funds purportedly for Lee Jae-myung’s presidential campaign, which occurred on four occasions between April and August 2021, spanning the period preceding and following the primaries of the previous presidential election.


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