GNP lawmaker probed over political funds

Ex-presidential aide Yoon denies allegations, threatens to take legal action


Investigators of Jeil Savings Bank chairman Ryu Dong-chun’s political lobbying case are looking into Rep. Yoon Jin-sik of the Grand National Party, a close aide of President Lee Myung-bak.

Yoon has denied the allegations made against him and threatened to take legal action should the “false information” be used politically.

According to reports, investigators secured testimony from Ryu that he gave Yoon between 20 million ($17,800) and 30 million won in 2010, around the time of the by-elections on July 28. However, investigators are reported to have no evidence that Ryu asked for specific favors in return for the money.

The Supreme Prosecutors’ Office said that details of the allegations have not been confirmed. Ryu was indicted in October on charges of embezzling about 10 billion won from the suspended Jeil Savings Bank, and for lending 100 billion won illegally using the names of 10,000 of the bank’s clients. The prosecutors have been investigating Ryu after they found evidence that he was engaged in a wide spanning lobbying scheme on politicians and the financial authorities.

Rep. Yoon Jin-sik

Yoon denies the allegation.

“I knew chairman Ryu while working in the finance ministry several decades ago, but we have not met for a long time since,” Yoon said at a press conference on Wednesday. He added that the prosecutors have not made any requests for his cooperation in answering any questions, but that he will comply should he be summoned.

“Attempts to cause damage ahead of the elections cannot be ignored. (I will) take legal action against not only incorrect media reports but also political use of the false information.”

Yoon is considered to have close ties with the president and has served as the presidential secretary for economy and as the presidential office’s chief of policy. He and the president are also alumni of Korea University.

However, Yoon has also held key posts in previous administrations including the head of the customs office under late former President Kim Dae-jung and the minister of industry during late former President Roh Moo-hyun administration.

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