'Daejang-dong 5 Billion Won' Kwak Sang-do: Prosecutors Seek 18 Years in Appeal

Prosecutors also seek a 5 billion won fine and 2.6 billion won in forfeiture from Kwak Sangdo

Former People Power Party lawmaker Kwak Sang-do, who is accused of accepting a bribe from members of the Daejang-dong group in the form of severance pay for his son, attends the first-trial sentencing hearing on charges including violating the Act on the Aggravated Punishment, etc. of Specific Crimes at the Seoul Central District Court in Seocho-gu, Seoul, on the 8th. Photo by Kang Jinhyung aymsdream@

Prosecutors have sought a total of 18 years in prison for former People Power Party lawmaker Kwak Sang-do, who was indicted on charges including receiving a 5 billion won bribe (2.5 billion won after tax) from Kim Man-bae, a private developer involved in the Daejang-dong development project.

At the final hearing in Kwak’s second trial, held on November 10 before the Seoul High Court’s Criminal Division 3, presided over by Presiding Judge Lee Seung-han, prosecutors asked the court to sentence him to 15 years in prison for charges including taking bribes through mediation under the Act on the Aggravated Punishment of Specific Economic Crimes, and to three years for violating the Act on Regulation and Punishment of Criminal Proceeds Concealment.

Prosecutors also sought a total of 10 years in prison for Kim Man-bae, identified as the bribe payer, and one year for Nam Wook, another private developer involved in the Daejang-dong project. Kwak’s son, Byung-chae, who was indicted as an accomplice in his father’s alleged receipt and concealment of bribes, faces a total of nine years in prison.

Kwak was indicted on charges of receiving 5 billion won as severance pay and bonuses for his son, who left his job at Hwacheon Daeyu Asset Management, where Kim was the largest shareholder, in April 2021. In February 2023, however, the court in the first trial found him not guilty of bribery.

Kim Man-bae, who was indicted on charges of bribery and embezzlement, was also acquitted. Kwak was, however, found guilty of receiving 50 million won in political funds from Nam and sentenced to a fine of 8 million won. Prosecutors—then known as the prosecution—additionally indicted Kwak on charges of concealing the money he allegedly received as a bribe, 265 days after the acquittal. His son Byung-chae was also indicted and tried as an accomplice on charges of receiving and concealing bribes.

The first-trial court in this case accepted Kwak’s argument that prosecutors had “double-indicted” him over the same matter and dismissed the charges in February this year. The two cases were consolidated on appeal.

This content was produced with the assistance of AI translation services.