Ex-president's supporter summoned in corruption probe

SEOUL, Dec. 10 (Yonhap) -- Prosecutors were questioning the chief of Taekwang
Industry Co., known as a supporter of former President Roh Moo-hyun, on Wednesday
as part of their widening corruption investigation into Roh's associates, a
spokesman for the prosecution said.

The months-long probe centered on the murky takeover of the troubled brokerage
house Sejong Securities Co. by the state-run conglomerate National Agricultural
Cooperative Federation, or Nonghyup, in January 2006. Prosecutors suspect illicit
rewards were paid to Roh's associates for the deal.
Park Yeon-cha, who heads the shoe manufacturing business, was suspected of
reaping 20 billion won (US$13.89 million) when share prices of the brokerage firm
jumped at the news of Nonghyup's takeover.
Prosecutors were also investigating whether Park acquired a Nonghyup chemical
affiliate at a fire-sale price in July 2006 and evaded taxes.
Park was summoned to the Supreme Prosecutors' Office Wednesday morning, and
prosecutors plan to request an arrest warrant soon, said Choi Jai-kyeong,
spokesman for the Supreme Prosecutors' Office.
Several Roh associates are awaiting trial. Roh's elder brother was arrested last
week on allegations that he influenced Nonghyup to buy Sejong Securities and
accepted bribes from the firm's lobbyists.
The probe dealt a sharp blow to Roh, who while in office promoted "clean
politics" and hurled acerbic criticism at politicians involved in bribery
scandals. Every former South Korean president has seen either relatives or
friends convicted of corruption after leaving office.
Liberals argue the current conservative government might be seeking to score
political points against the previous administration. Trying to dispel the
accusation, the prosecution's spokesman said, "There is no ulterior motive behind
out investigation."
Roh retired to his rural hometown of Bonghwa village in South Gyeongsang Province
in February.
hkim@yna.co.kr
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