KEY LAND SCANDAL FIGURES ARRESTED

[Anchor Lead]

Kim Man-bae and Nam Wook, the key figures in the Daejang-dong land development scandal, have been taken under arrest. A court cited sufficient evidence of their wrongdoing and the possibility of evidence destruction. An arrest warrant for lawyer Chung Min-yong has been rejected.

[Pkg]

Hwacheondaeyu's major shareholder Kim Man-bae and the actual owner of Cheonhwadongin No. 4, lawyer Nam Wook, have been arrested. The Seoul Central District Court issued arrest warrants for the two on Thursday citing sufficient evidence of wrongdoing and the possibility of evidence destruction. An arrest warrant request for lawyer Chung Min-yong, who drafted guidelines for selecting land developers when serving as an investment manager at the Seongnam Development Corporation, has been denied. The court said Chung was unlikely to flee or destroy evidence.

[Soundbite] Chung Min-yong(Lawyer) : "What are you sorry for? I'll get in."

Kim Man-bae faces accusation of conspiring with former Seongnam Development Corporation executive Yoo Dong-kyu to design the Daejang-dong development project in a way that it would benefit Hwacheondaeyu and also for inflicting more than 65 billion won in losses to the corporation. In late January, Kim allegedly promised 70 billion won to Yoo and offered him 100 million won in cash and 400 million won in checks. Prosecutors believe Nam Wook offered 3.5 billion won in bribes to Chung under the pretext of investment funds. They charged him with bribery and concealment of criminal proceeds. With the arrest of three out of the four key suspects in the land development scandal, the probe will likely gain pace from now on. Investigators plan to grill Kim and Nam on political lobbying.