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It was confirmed that Prime Minister candidate Han Deok-soo received about 1.8 billion won in remuneration while serving as an advisor to Kim & Chang for about four years.
One candidate also worked as an advisor to Kim & Chang in 2002, but he vehemently denied allegations that Lone Star, represented by Kim & Chang, intervened in buying Korea Exchange Bank at a low price.
Correspondent Koh Ji-hyun.
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Han Deok-soo, a candidate for Prime Minister, served as an advisor to Kim & Chang, the largest law firm in Korea, from December 2017 until recently, just before his nomination as prime minister.
An annual salary of 500 million won was set for three years until the end of 2020, and an annual salary of 300 million won thereafter.
To the question of "Isn't it a high salary?", one candidate answered, "From the point of view of the public, there may be such an aspect."
Regarding his role as an advisor, he explained, "I explained the Korean business environment to large foreign companies in need of Kim & Chang's help, and worked with lawyers to persuade investment."
One candidate previously served as an advisor to Kim & Chang for 8 months from November 2002, receiving a salary of 150 million won.
At the time, Kim & Chang acted as a legal representative for Lone Star, an American private equity fund that was taking over KEB at the time, and suspicions were raised at the Prime Minister's personnel hearing in 2007 that a candidate may have played a role as an advisor.
[Han Deok-soo / Prime Minister Candidate: I have never been involved in Kim & Chang's private job.]
One candidate said, "At the time, I didn't even know that Kim & Chang represented Lone Star."