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Prosecutors Raid Hana Financial in Daejang-dong Bribery Probe

Written: 2023-05-26 10:59:13Updated: 2023-05-26 13:33:19

Prosecutors Raid Hana Financial in Daejang-dong Bribery Probe

Photo : YONHAP News

Prosecutors investigating alleged bribery in the Seongnam land development scandal involving a former ruling party lawmaker raided the offices of Hana Financial Group.

The Seoul Central District Prosecutors' Office began the search and seizure Friday morning to obtain documents related to the formation of a consortium for the Daejang-dong development project.

The raid is the first search of the financial group in the prosecution's supplementary investigation since former People Power Party(PPP) Rep. Kwak Sang-do was acquitted of bribery in the first trial.

Prosecutors suspect that Kwak received five billion won, or some three-point-77 million U.S. dollars, from Kim Man-bae, the biggest shareholder of an asset management firm at the center of the scandal, in return for pulling strings through Hana to benefit the consortium the firm was a part of to win the project in 2015.

The alleged bribery was paid in the form of severance pay and incentives for Kwak's son, a former employee of the asset management firm.

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