The former chairman of Ssangbangwool Group, Kim Seong-tae, is set to be released Tuesday on bail after his arrest last February on a number of corruption charges. 

The Suwon District Court granted bail to Kim earlier in the day on the condition that he pay one-hundred million won, or nearly 75-thousand U.S. dollars,  in security deposit and wear a GPS device. 

Kim’s lawyers had previously told reporters last Friday after a bail hearing held behind closed doors that they had requested the court to try Kim’s case without physically detaining Kim as he poses no risk of flight or evidence tampering. 

Kim asked to be released on bail on December 20 with his legal detention period of six months set to expire on February 3. 

Kim is accused of embezzling nearly 54 billion won from five unlisted firms suspected to be shell companies established under the names of Ssangbangwool Group executives and employees.

He is also accused of handing over some eight million U.S. dollars to North Korea between January and December 2019 in pursuit of inter-Korean projects.