Suspicion of pressure to resign as CEO Hwang Moo-seong… Rejection of search and seizure warrant


Seoul Central District Prosecutors’ Office. file photo.

Prosecutors investigating the allegations of preferential treatment for the Daejang-dong development project requested a search and seizure warrant from the court for a search and seizure, but it was confirmed that it was dismissed. Former general manager Yoo is under suspicion of pressuring Hwang Moo-seong, former president of Seongnam Urban Development Corporation, to resign. According to the coverage on the 18th, the investigation team in charge of the Seoul Central District Prosecutors’ Office (Team Leader Kim Tae-hoon) requested a search and seizure warrant for Yoo, on charges of obstruction of the exercise of the right to abuse of power and bribery earlier this month. Former general manager Yoo is suspected of receiving 200 million won in exchange for business convenience from lawyer Nam Wook (owner of Cheonhwa-dongin No. 4) and accountant Jeong Young-hak (owner of Cheonhwa-dongin No. It is also suspected that in February 2015, Hwang Moo-seong, then president of Seongnam Urban Development Corporation, was pressured to resign. However, it is known that the court dismissed the warrant on the ground that the source of the bribe that Yoo had received was insufficient. Earlier, on the 24th of last month, the prosecution summoned former president Hwang as a witness to investigate, and former general manager Yoo mentioned at the time Seongnam Mayor Lee Jae-myung and Seongnam city policy chief Jeong Jin-sang, etc. secured Prosecutors have been investigating whether there was any involvement of a higher level in the process of resignation of former president Hwang. In the process, it also secured a statement that former general manager Yoo received a bribe of about 200 million won in exchange for providing convenience to businesses in Daejang-dong. When the controversy over pressure to resign, former general manager Yoo said, “Ex-President Hwang was on trial for a fraud case at the time, and he did not inform the corporation. The former president suggested that I resign in consideration of the honor of the former president himself.” Hwang was indicted without detention on charges of fraud in June 2014, and the trial was ongoing at the time when former general manager Yoo pressured him to resign. In response, former president Hwang rebutted to the effect that “When he was pressured to resign, former general manager Yoo never talked about the trial.” By Kang Jae-gu, staff reporter [email protected]

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