|
S. Korean president's son arrested for bribery
May 17, 1997
Web posted at: 9:54 a.m. EDT (1354 GMT)SEOUL, South Korea (CNN) -- A son of South Korean President Kim Young-sam was arrested Saturday on bribery and tax evasion charges stemming from an influence peddling scandal that has rocked Kim's government.
Kim Hyun-chul, Kim's second son, was taken from the Supreme Public Prosecutors Office to the Seoul Detention House after a South Korean court issued an arrest warrant charging him with accepting $3.6 million in bribes. The younger Kim confessed to taking the money during three days of interrogation, but denied it had been meant to gain his influence.
"He is denying bribery," said prosecutor Shim Jae-ryun. "But we are working to reveal more bribe money."
Minutes after the warrant for his son's arrest was issued, President Kim released a public apology vowing "stern punishment" for those found guilty of corruption.
"President Kim again expressed regrets that the public has been given such a severe shock and disappointment through this incident," the statement said. "This reflects President Kim's firm intention that there should be no sanctuary when it comes to punishing corruption."
Kim Hyun-chul is the first member of the president's family to be arrested in the growing scandal that began with the collapse of Hanbo Steel under the weight of a $6 billion debt. Eleven people are now on trial in Seoul charged with giving or taking bribes to win bank loans for the company.
The charges against Kim Hyun-chul are not directly related to the Hanbo scandal, but were filed as prosecutors sought the source of $16.3 million the younger Kim had allegedly hidden in secret bank accounts, a practice outlawed by his father.
He is charged with accepting bribes and laundering another $3.7 million in cash donations to evade $1.5 million in taxes. He could be sentenced to life in prison if found guilty.
The scandal has shaken Kim Young-sam's government, raising the pitch of his opposition's criticism and sparking sometimes violent student protests urging his resignation. Kim is in the final year of his term as president and is barred by law from seeking another in an election scheduled in December.
- Newsmaker Profiles: Kim Young-sam - South Korean President
Related story:
- South Korean president's son may be arrested - May 15, 1997
Related sites:
Note: Pages will open in a new browser window
- The Hanbo Situation - Press Release from Korean Embassy to U.S.
- Korea Herald
- KoreaNet
External sites are not endorsed by CNN Interactive.
Sound off on our message boards
Tell us what you think!
You said it...
© 1997 Cable News Network, Inc.
All Rights Reserved.