After borrowing 5 billion won from Kim Man-bae, the major shareholder of Hwacheon Daeyu, it was handed over to the prosecution to the chairman of the media company who only paid back the principal.
Today (26th), the Gyeonggi Southern Police Agency handed over to the prosecution two people, including Mr. Kim and Mr. Hong, the chairman of a media company, for violating the Act on Prohibition of Improper Solicitation and Graft and Acceptance of Money and Valuables (Improper Solicitation and Graft Act).
Mr. Hong is accused of borrowing 5 billion won from Mr. Kim around October 2019 and only paying back the principal two months later.
The charge of violation of the Improper Solicitation and Graft Act is established when a public official, etc. receives or demands money or valuables in excess of 1 million won at a time or 3 million won in total for each fiscal year from the same person, regardless of job relevance.
At the time, Mr. Kim's side is known to have stated that although Mr. Hong's side borrowed money for a short period of time and paid it back, it had nothing to do with the Daejang-dong project.
(Photo = Yonhap News)