INVESTIGATION ON LAND SCANDAL CONTINUES

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In their investigation into allegations surrounding a lucrative development project in Daejang-dong, Seongnam, prosecutors are focusing on finding whether or not Hwacheondaeyu were given business favors in the process. They summoned and questioned a former chief of Hwacheondaeyu and officials from the Seongnam Development Corporation.

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The investigation team looking into the Daejang-dong development controversy called in and questioned Lee Seong-moon, former CEO of Hwacheondaeyu. Having served at the asset management firm from 2015 to September 2021, he is familiar with how the company obtained a business license and permit. Prosecutors interrogated Lee about if the company received business favors while running the development project. Multiple officials at the Seongnam Development Corporation were also summoned, A senior official surnamed Kim was grilled about possible flaws in the process of selecting a bidder.

[Soundbite] Kim(Seongnam Development Corporation(Oct. 6)) : "I was in charge of running projects at the development team. I told them everything about what I did during the previous raid. I have nothing more to say."

Another official surnamed Han was summoned and questioned for two straight days, as he had proposed an opinion to put in a clause on retrieving excess profit when the corporation and Hwacheondaeyu were discussing a contract. This indicates that prosecutors are focusing on finding out if Hwacheondaeyu received business favors in the process of pushing forward with the project. They are also expected to expand the probe to look into possible involvement of higher-ranking officials and breach of trust charges against Yoo Dong-kyu, the arrested former acting head of Seongnam development corporation. Prosecutors are reportedly questioning the witnesses in each other’s presence to check contradictions in statements and establish facts. They also summoned Lee Han-seong, an executive at Cheonhwadongin No.1, an affiliate of Hwacheondaeyu. He was questioned about allegations that the company has a hidden real owner.