A top South Korean business tycoon yesterday in court backed prosecutors’ allegations that ousted South Korean president Park Geun-hye solicited bribes from businesses in return for policy favors.
Chey Tae-won, chairman of SK Holdings, the country’s second-largest conglomerate after Samsung, became the first business mogul who took the stand at what is being dubbed in South Korea “the trial of the century.”
Chey was one of seven tycoons that Park held confidential meetings with in February last year.
Photo: Bloomberg
She denied the allegations, saying that companies made voluntary donations to two foundations she said were aimed to help develop sports and culture.
Chey admitted in court that he had sought government approval for a merger-and-acquisition project, a license for a duty-free shop and the early release of his brother who was in jail for embezzlement when he met Park near the presidential Blue House.
One of Park’s top aides, Ahn Jong-beom, now arrested, asked SK to donate 8.9 billion won (US$7.8 million at the current exchange rate) to one of two foundations allegedly controlled by Choi Soon-sil, a confidante of the impeached ex-president.
SK, which had already donated 11.1 bilion won to Choi’s foundations, rejected the request and its request for policy favors was declined.
“Is it true that the accused Park Geun-hye expressed gratitude over the 11.1 billion won SK had donated and asked for continuous cooperation [for the two foundations]?” prosecutor Lee Won-seok asked.
“Yes,” Chey replied.
Park was silent as Chey was questioned. Choi was also in court.
Both women are in jail and on trial for allegedly accepting or seeking millions of US dollars in bribes from the country’s huge conglomerates, including Samsung.
If convicted of bribery, Park faces a minimum sentence of 10 years in jail and a maximum of life.
Samsung heir apparent Jay Y. Lee, also arrested, denied asking for policy favors when he met Park, painting Samsung as a victim of blackmailing by the ex-president and Choi.
Prosecutors have also indicted Shin Dong-bin, the chairman of Lotte, South Korea’s fifth-largest conglomerate, on a charge of offering a bribe of 7 billion won to Park and Choi in exchange for a lucrative government license to open a duty-free shop.
Additional reporting by AP
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