April 26, 2024

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[THE INVESTOR] The prosecution is seeking an arrest warrant for Jang Si-ho on charges of embezzling donations from Samsung Group.

Jang, the 37-year old niece of Choi Soon-sil, is accused of embezzling 1.6 billion won (US$1.35 million) from Samsung Group’s donations to Korea Winter Sports Elite Center that she founded. 

Jang is also accused of colluding with Kim Chong, former vice minister of culture, in pressuring Samsung Group to donate to her organization. Kim is also suspected of having a hand in Jang’s organization receiving 670 million won subsidy from the Ministry of Culture, Sports and Tourism.

Jang is thought to have won contracts from the government and the K-Sports Foundation through companies she operates under borrowed names.

As for Choi, President Park Geun-hye’s confidante was indicted on a host of charges including fraud and abuse of authority on Nov. 20. The prosecution also concluded that Park was an accomplice for much of Choi’s crimes.

By Choi He-suk (cheesuk@heraldcorp.com)