Prosecutors indict DP chief Lee Jae-myung

Mar 23, 2023, 08:55 am

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Lee Jae-myung, chairman of the main opposition Democratic Party (DP), speaks at the National Assembly on March 22, 2023./ Photographed by Lee Byung-hwa

AsiaToday reporters Kim Chul-joon

Prosecutors indicted opposition leader Lee Jae-myung on Wednesday over corruption and bribery charges connected to development projects in Seongnam’s Daejang-dong and Wirye districts, and the city’s municipal football club.

The Seoul Central District Prosecutors Office charged Lee with breach of duty, conflict of interest, bribery and concealment of criminal proceeds.

By indicting Lee, prosecutors wrapped up their investigation into major allegations related to the Daejang-dong development case in a year and a half after suspicions were raised in September 2021.

Lee, mayor of Seongnam from 2010-2018, was charged with breach of trust for allegedly causing 489.5 billion won (US$375.4 million) of financial damage to the city government and causing private partners of Daejang-dong project earn 788.6 billion won in profits by designing a business structure favorable to the private partners.

Lee also faces suspicious of leaking inside information of the city government or the city’s development corporation to private partners in Wirye project so that the partners reaped 21.1 billion won of profits from the development project to build apartment complexes.

The bribery charge involves allegations that Lee, serving as the head of Seongnam FC during his mayorship, attracted 13.3 billion won in corporate donations to the football club from four companies including Doosan Engineering & Construction and Naver, in return for administrative favors.

However, the prosecution excluded allegations of receiving 42.8 billion won and illegal political funds from the indictment.

Prosecutors believe that Lee gave profits to private businesses to increase his share of dividends.

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