April 19, 2024

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[THE INVESTOR] The Korean prosecution is investigating “circumstantial” evidence showing that President Park Geun-hye held a private meeting with Lotte Group Chairman Shin Dong-bin early this year where she may have requested funding for sports foundations run by her former confidante Choi Soon-sil. 

Lotte Group Chairman Shin Dong-bin (center)

The Hankyoreh on Nov.8 reported that the special prosecutorial headquarters investigating the so-called “Choi Soon-sil Gate” said it has discovered journal entries made by a former presidential aide showing Park met with Shin in February or March this year. At the time, Shin was under internal review by the prosecution, which was planning to launch a major investigation into Lotte Group.

Shortly after the alleged one-on-one meeting, Lotte handed additional funding to Choi’s K Sports Foundation, arousing suspicion that the president may have made financial requests to Shin. The funds were later returned to Lotte, just ahead of the probe launched on the conglomerate on June 10.

Previously, Lotte had already offered 1.7 billion won (US$14.77 million) funding to K Sports, and another 2.8 billion won to the Mir Foundation -- both owned by Choi.

Lotte denies the meeting. But other evidence is said to show that at around the time that Shin reportedly met with the president, Park was found to have asked her aides on progress regarding funding for the foundations run by Choi.

Choi is a civilian who allegedly abused her connections with the president for personal benefits. She is currently under arrest for peddling influence on presidential affairs. The president has issued a public apology but has indicated she will not be stepping down immediately.

Meanwhile, Shin has also publicly apologized to the public for Lotte’s past malfeasance. The chairman issued an apology in October after he was questioned by the prosecution for his role in the crimes.

By Kim Ji-hyun (jemmie@heraldcorp.com)