The son of a lawmaker from the main opposition People Power Party (PPP) reportedly received five billion won in severance pay from a company at the center of a scandal involving a development project.

NocutNews, a daily newspaper run by local broadcaster CBS, reported on Sunday that the 31-year-old son of Rep. Kwak Sang-do received five billion won from asset management firm Hwacheon Daeyu in March when he left the company.

The lawmaker's son reportedly joined the firm in June 2015 and was paid two-point-three million to three-point-eight million won per month.

Hwacheon Daeyu is accused of receiving favors in a development project in Seongnam, Gyeonggi Province, when Gyeonggi Governor Lee Jae-myung was mayor of that city.

The leadership of the PPP called an emergency meeting of the party's supreme council at 5 p.m. Sunday to discuss the possible punishment of Kwak in relation to the allegations.