It was found that Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, hid tens of billions of won from the Daejang-dong development proceeds in officetels under borrowed names.

The prosecution judged that Mr. Kim, who tried the extreme choice, has recovered his health to some extent, and plans to resume the investigation sooner or later to inquire into the use of the proceeds.

In the process of investigating Hwacheon Daeyu co-representative Lee Han-seong and director Choi Woo-hyang (former vice chairman of Ssangbangul Group), the Seoul Central District Prosecutor’s Office’s Anti-Corruption Investigation Division 1 withdrew proceeds from Daejang-dong as checks from an officetel rented by Kim under a borrowed name or a safe deposit box under the name of an employee. I have confirmed that it has been kept.

Lee and others are known to have stated their motive for hiding funds to the effect that "the proceeds from Daejang-dong were regarded as Mr. Kim's lifeline" during the prosecution's investigation.

The prosecution reported that the two had hidden 27.5 billion won in profits from Daejang-dong the previous day, and handed them over to trial in a state of custody.

Prosecutors plan to resume the investigation sooner or later on Mr. Kim, who ordered them to hide the funds.

Kim, who made an extreme choice in his car on the 14th of last month, was recently discharged from the hospital and is staying at his home.

The prosecution has confirmed that Kim's health has improved and is discussing the specific investigation schedule and method with the lawyer.

Prosecutors plan to investigate the purpose of the case, including whether there are additional hidden funds against Mr. Kim and whether any of the proceeds were delivered to Lee Jae-myung, the representative of the Democratic Party of Korea.

In addition, as there is a concern that he will try to choose the extreme again, we are reviewing measures such as requesting an arrest warrant for a matter currently under investigation or requesting an additional arrest warrant to be issued by the court hearing Kim's case.

The Daejang-dong trial, which was suspended due to Mr. Kim's attempt to select a theater group, will resume on the 13th.

(Photo = Yonhap News)