[속보]Kim Seong-tae, former chairman of Ssangbangwool Group, arrives at Incheon International Airport… “I will be investigated sincerely”

The plane on which Kim Seong-tae, former chairman of Ssangbangwool Group, arrived at Incheon International Airport around 8:20 am on the 17th.

On this day, former chairman Kim replied, “I don’t know at all” to the reporter’s question, “Have you ever contacted Lee Jae-myung or anyone close to him?” He continued, “The people who worked hard because of me were hurt,” and added, “It will all be revealed in the prosecution.” He also said, “I’m sorry for causing concern (to the public),” and “I will faithfully participate in the prosecution’s investigation.”

Prosecutors plan to transfer former chairman Kim to the Suwon District Prosecutor’s Office for investigation. It is expected that an arrest warrant will be requested by the late afternoon of the 18th at the earliest after questioning former Chairman Kim of embezzlement charges and his whereabouts after escaping.

The prosecution, which has secured former Chairman Kim’s recruit, is expected to intensively pursue various allegations that the Ssangbangwool Group has received so far. Prosecutors are conducting a comprehensive investigation into the Ssangbangwool Group, including violations of the Capital Markets Act, including false disclosure of convertible bonds, payment of attorney fees, and suspicion of remittances to North Korea.

The alleged violation of the Capital Markets Act that Ssangbangwool receives is that it falsely disclosed related information in the course of trading 20 billion won convertible bonds (CB) issued by Ssangbangwool between 2018 and 2019. The suspicion of remittance to North Korea is that Ssangbangwool mobilized dozens of executives and staff including affiliates around 2019 to smuggle 6.4 million dollars (equivalent to 7.2 billion won at the time) to China and deliver it to North Korea. Prosecutors suspect that the profit obtained unfairly through the expedient issuance and distribution of convertible bonds by the Ssangbangwool Group may have been used to pay for the attorney fees of Democratic Party leader Lee Jae-myung.

Regarding the suspicion, CEO Lee said, “I have never seen the face of a person named Kim Seong-tae.” In an interview with KBS, former chairman Kim also said, “There is no opportunity to meet (CEO Lee) and there is no reason to meet him, so why am I meeting him?” He never even talked on the phone.”