April 26, 2024

• 

[THE INVESTOR] Conglomerates with alleged links to the so-called Choi Soon-sil gate are once again on high alert following the Constitutional Court’s ruling upholding President Park Geun-hye’s impeachment on March 10.

The court ruled that Park had violated the Constitution and removed her from office in a unanimous decision by the eight judges. 

With Park now having lost immunity afforded to the president, the prosecution is said to be gearing up to reestablish a special team to delve into allegations surrounding the former president.

While the independent counsel focused on Samsung Group and Samsung Electronics Vice Chairman Lee Jae-yong, pundits say that the prosecutors’ office is likely to widen its probe, bringing SK, Lotte and CJ groups under the spotlight.

It has been alleged that SK Group donated 11.1 billion won (US$9.60 million) to Mir and K-Sports foundations operated by Choi to ensure a presidential pardon for its chief Chey Tae-won in 2015. At the time Chey had been serving a prison term for embezzlement.

Lotte Group’s 4.5 billion won donation to Choi’s foundations is also suspected of being a bribe for the duty-free license selection process, while CJ Group’s decision to invest heavily in the K Culture Valley project has been linked to Lee Jay-hyun’s pardon.

The project was spearheaded by Cha Eun-taek, an associate of Choi who has since been indicted for various charges, and CJ Group’s Lee was pardoned in August soon after he dropped the appeal case on embezzlement charges.

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