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South Korean authorities have indicted the country’s opposition Democratic Party leader Lee Jae-myung on charges of corruption. The charges were related to real estate developments and a football club that Lee oversaw during his time as a city mayor.
Lee was indicted this week on charges of bribery, breach of duty, conflict of interest, and concealment of criminal proceeds that stem from his tenure as the mayor of Seongnam, according to the South Korean Yonhap news outlet on Wednesday. The indictment was announced by the Seoul Central District Prosecutors Office after an 18-month probe into the $1.15 billion construction project in Seongnam, which is 20 kilometers south of the capital Seoul.
According to prosecutors, Lee, who was Seongnam’s mayor from 2010 to 2018, colluded with real estate developers during his term to help them get over $611 million, resulting in losses worth almost ₩490 million on the city. Lee is also accused of taking bribes from several companies to fund the city’s football club in exchange for preferential treatment from the government.
Lee, who ran against now-president Yoon Suk-yeol in the latest presidential elections, denied wrongdoing and said the investigation into him by the conservative government was politically motivated. During a meeting by the Democratic Party, Lee said his indictment was “not surprising at all.”
“As I have repeated many times, the indictment had already been determined,” said Lee, according to Yonhap.
In a poll by KBS earlier this month, almost 54 percent of respondents said Lee should resign following the charges. 52 percent, however, said the South Korean parliament, where Lee’s party holds a majority, was wrong to deny a warranty for Lee’s arrest last month by prosecutors.
Meanwhile, Yoon announced on Tuesday that Japan’s fast-track trade status with South Korea would be restored following the summit with Japanese Prime Minister Fumio Kishida last week. Yoon said the move was crucial to boosting supply chains in key areas. Yoon announced the decision during a cabinet meeting, saying that the two countries should make efforts to remove obstacles that would risk straining bilateral ties.
“I will preemptively order our trade minister today to begin necessary legal procedures to have Japan back on our white list,” Yoon said during the televised meeting. “I’m sure Japan will respond if South Korea first starts removing the obstacles.”
