Suspicion of ‘Kim Okay-sook slush fund’ summoned after 29 years

2024-06-09 20:52:03

Will the rumored ‘homeroom slush fund’ suspicions be resolved? Take note of Supreme Court docket judgment

“There have been persistent rumors that Kim Okay-sook is nice at profiteering, so she individually collects slush funds and shops them in varied secret accounts.”

That is an excerpt from an article within the Dong-A Ilbo on October 29, 1995, when suspicions in regards to the ‘sixth Republic slush fund’ had been in full swing, titled “Rumors about Kim Okay-sook’s ‘separate pocket’.” The slush fund suspicions surrounding former President Roh Tae-woo’s spouse, Kim Okay-sook, had been solely talked about as ‘rumours’ on the time. Nevertheless, suspicions are rising once more following the latest attraction of the divorce case between her daughter So-young Noh, director of the Butterfly Artwork Middle, and Tae-won Choi, chairman of SK Group. For the primary time in 29 years, the suspicion of the so-called ‘Blue Home slush fund’ has been recalled once more.

First Woman Kim Okay-sook, spouse of former President Roh Tae-woo. [뉴스1]

Noh So-young raises ’30 billion slush fund’ in attraction trial

The explanation why Director Roh’s facet reached a 1.3808 trillion received property division ruling within the attraction trial of the divorce case between the 2 folks was as a result of most of the property that Chairman Choi inherited from his father, together with shares of SK Company, had been fashioned via the contribution of Director Roh’s father, former President Roh Tae-woo. As a result of the declare was accepted. Director Roh’s facet first raised the declare of a ’30 billion received slush fund’ that was not disclosed within the first trial throughout the attraction trial. He claimed, “My father, former President Roh Tae-woo, handed over 30 billion received in slush funds to former Chairman Choi Jong-hyun round 1991 and obtained notes as collateral,” which was not revealed even within the investigation into the ‘Roh Tae-woo slush fund’ in 1995 and the Supreme Court docket ruling the next 12 months.

The appellate court docket accepted Director Roh’s argument and dominated that the funds had been blended with former Chairman Choi Jong-hyun’s funds and used to amass Sunkyung’s Pacific Securities and Chairman Choi Tae-won’s stake in Korea Telecom. It’s said that there was assist from the Roh household within the strategy of forming Chairman Choi’s shares in SK Group.

Nevertheless, some within the authorized group are elevating doubts in regards to the appellate court docket’s resolution. It’s because the premise for the ’30 billion received slush fund’ introduced by Director Noh’s facet is just Mrs. Kim’s ‘Seonkyung 300’ memo of unknown date, a part of a photograph of a 5 billion received invoice, and Director Noh’s assertion. It has not been established via what particular channel the quantity was offered to Sunkyung, and even the whereabouts of the invoice are unsure. Director Noh’s facet claimed that he used it at hand over two payments price 5 billion received to SK to boost 10 billion received to pay extra fines in 2013, however SK counters that that is unfounded.

The ’30 billion received slush fund’ declare is definitely inflicting new controversy. This might act as a backlash to former President Roh’s household, which has been insisting on ‘full cost of fines’. Moreover, there’s a view that this may very well be a clue to the ‘homeroom slush fund’ whose true nature was not revealed even throughout a large-scale prosecution investigation and trial 29 years in the past.

Ever since former President Roh was in workplace, rumors have been rife that there was a slush fund created and managed individually by Mrs. Kim. The suspicion of the sixth official slush fund, which started in earnest with the revelations of then-Democratic Celebration lawmaker Park Gye-dong in a query to the federal government on the Nationwide Meeting in October 1995, was transferred to Mrs. Kim. When former President Roh confessed to a large-scale slush fund and apologized to the general public, there was a major distinction between the 1 trillion received slush fund identified to the general public and the precise quantity revealed, and suspicions had been raised in regards to the ‘dwelling slush fund’ that Mrs. Kim had put aside individually. Instantly after the suspicion of the sixth official slush fund was raised, the media reported, “It’s a well-established perception that Kim Okay-sook’s residence, the so-called ‘internal room’ of the Roh Tae-woo administration’s Blue Home, is stronger than former President Roh’s ‘workplace.’” “It was very ‘homely.’ It was extensively mentioned that former President Roh didn’t put any particular brakes on Mr. Kim’s conduct. Rep. Kang Chang-seong, who was the chairman of the Democratic Celebration’s slush fund fact-finding committee on the time, mentioned, “The slush funds managed by Mrs. Kim Okay-sook’s family will not be uncovered in any respect,” and likewise claimed, “Ms. Kim individually manages 200 billion received in slush funds.”

Since then, Ms. Kim’s title has been repeatedly talked about within the suspicion of former President Roh’s slush fund. In 2005, the Supreme Prosecutor’s Workplace’s Central Investigation Division found and picked up two extra deposit accounts in Ms. Kim’s title into which roughly 1.2 billion received had been deposited. Mrs. Kim defined that it was cash that her household had managed individually, however the prosecution assumed it was a slush fund. As the extreme investigation into whether or not it was a slush fund continued, Mrs. Kim reluctantly expressed her intention to pay, saying, “When you actually need it, take it.” The prosecution mentioned, “There’s a robust suspicion that it’s a slush fund, however we won’t individually examine the supply of the funds since we’ve agreed to the gathering.” There’s a bar.

Afterwards, Mrs. Kim took the lead in a lawsuit in opposition to her family throughout the slush fund assortment course of. The premise of the lawsuit on the time was to “return the slush funds entrusted to us by former President Roh,” and in relation to this, it took on the facet of a earlier battle, with new actual property properties and borrowed-name accounts being revealed. Within the lawsuit filed by former President Roh in 2009 in opposition to her youthful brother Jae-woo and her nephew Ho-jun, asking for “the return of the corporate based with slush funds,” Ms. Kim confirmed an lively angle by immediately showing as a witness. This was the primary case by which a former president’s spouse appeared in court docket in a civil or prison lawsuit.

In 2013, Ms. Kim submitted a petition to the prosecution, saying, “If the federal government recovers the slush funds entrusted to family beneath borrowed names, I’ll pay the complete unpaid nice of 23.1 billion received.” On the time, Mr. Noh Jae-woo’s lawyer mentioned in a broadcast interview, “Mrs. Kim is main the combat in opposition to her lawsuit.”

SK Group Chairman Chey Tae-won (left) and Noh So-young, director of Artwork Middle Nabi, attended the divorce swimsuit attraction listening to held on the Seoul Excessive Court docket in Seocho-gu, Seoul on April 16. [뉴스1]

If hidden slush funds are revealed, the ‘full cost of fines’ could also be tarnished.

Sooner or later attraction of the divorce lawsuit between Chairman Choi and Director Roh, the important thing concern will likely be whether or not or not Ms. Kim’s memo introduced by Director Roh will likely be accepted as proof. On this course of, Director Noh will probably must show the credibility of the proof whereas additionally investigating the brand new slush fund suspicions surrounding his mom. To this point, former President Roh’s household has been evaluated as being proactive in clearing away the errors made throughout the sixth Republic, together with paying the 262.8 billion received in fines in full in 2013. For this reason it’s identified that, opposite to this picture, whether it is confirmed that there was one other hidden slush fund, the general public’s reminiscence of former President Roh’s household might return to the way in which it was 29 years in the past, whatever the divorce lawsuit.

*When you search and observe ‘Journal Jin Donga’ and ‘Two Avengers’ on YouTube and portal websites respectively, you will discover quite a lot of funding info equivalent to movies along with articles.

〈This text Weekly Donga It was revealed in concern 1443〉

Reporter Kim Woo-jeong [email protected]

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2024-06-09 20:52:03