‘5 BILLION CLUB’ EVIDENCE DISCLOSED

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Recorded files have been disclosed suggesting that former special prosecutor Park Young-soo was involved in the Daejangdong land development project from early on. He was previously mentioned as a member of the so-called five billion won recipients club who reaped hefty gains from the project. The files contain more circumstantial evidence related to the five billion won allegations but the investigation is barely picking up speed.

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The recordings were submitted to prosecutors on April 4, 2020 by accountant Jeong Young-hak, the owner of Cheonhwa Dongin No. 5. It's mentioned that when Kim Man-bae established Hwacheondaeyu, the money at that time came through Park Young-soo. Park's relative is also mentioned saying some reward should also be given to that individual. The prosecution believes 500 million won was transferred from Park's account to Hwacheondaeyu in April 2015 in the early days of the development project. In recordings from July 2020, Kim says he plans to give 5 billion won to Park's daughter who worked at Hwacheondaeyu. This raises suspicion that Park may have been involved in the project from the early stages and received money through his daughter. Park explained the 500 million won in question was an early investment Kim Man-bae had borrowed from his relative surnamed Lee. Park said all he did was lend his bank account for the money transfer. The recordings also show Kim talking about former lawmaker Kwak Sang-do’s demand for money via his son. Prosecutors had obtained the disclosed content from the accountant already in the initial days of investment last September. After two months of investigation, they sought an arrest warrant for the former lawmaker on bribery charges but was rejected by the court. The court said making a case for a crime could be disputed, meaning the prosecution could have done better to prove the allegations. Despite achievements so far, investigation into the Daejangdong scandal hit a wall when it came to lobbying allegations involving politicians, and is under fire for not being thorough enough.