Key suspect in corruption-laden development scandal detained upon return from US
A key partner in a corruption-laden urban development project involving a former aide to the ruling Democratic Party's presidential nominee was detained upon his arrival from the United States on Monday for questioning over bribery and other allegations.
Nam Wook is believed to be holding a key to resolving suspicions over how a previously unheard-of asset management firm, Hwacheon Daeyu, and its seven affiliates reaped astronomical profits from a 2015 project to develop the Daejang-dong district in Seongnam, south of Seoul, into an apartment complex.
Nam joined the city-run project as a private partner and made about [1]00.[7] billion won
Yoo has already been arrested on charges of bribe-taking and breach of trust
accusations that Gyeonggi Province Gov. Lee Jae-myung, who is now the ruling Democratic Party's candidate for next year's presidential election, was mayor of Seongnam at the time. Yoo is known as a close associate of Lee.
October 18, 2021
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