Democratic Party Condemns 'Daejang-dong Appeal Abandonment,' Probes Nam Wook's Real Estate Holdings

The People Power Party (PPP) is condemning the abandonment of appeals related to the Daejang-dong development scandal, focusing scrutiny on lawyer Nam Wook's acquisition of real estate. The PPP states that verification of the facts surrounding the appeal withdrawals is necessary. They argue that the abandonment of appeals by key defendants could obstruct the discovery of the truth and are demanding a thorough investigation. In particular, the PPP is highlighting Nam Wook's ownership of Gangnam real estate worth approximately 50 billion won, claiming it's potentially criminal proceeds linked to the Daejang-dong development preferential treatment allegations. They emphasize the need for an investigation into the acquisition process and the source of funds for Nam Wook's real estate.

Seongnam City has submitted an objection to the prosecution regarding the request for release of asset seizure filed by Nam Wook and other key defendants. Seongnam City is concerned that if the request to release the asset seizure is accepted, it may become difficult to recover criminal proceeds. Asset seizure is a measure to temporarily freeze illegal profits obtained from a crime before a final court ruling. The release of asset seizure means lifting this freeze, allowing the defendants to freely dispose of the assets. In its opinion, Seongnam City stated, "The request for release of asset seizure by Nam Wook et al. is suspected of being an attempt to conceal criminal proceeds and make recovery difficult." They also argued that "the court should reject the request to release the asset seizure in order to prevent such an attempt." The Daejang-dong development preferential treatment allegation concerns the alleged provision of preferential treatment to specific private developers in the land development project that took place in Daejang-dong, Seongnam City, in 2015. Several politicians and business people have been investigated in connection with this case, and trials are currently underway.

The PPP is demanding the introduction of a special prosecutor to uncover the truth of the Daejang-dong scandal. They argue that a special investigation is necessary to reveal the full details of the case and punish all those involved. The Democratic Party (DP) views the PPP's claims as an approach from a political standpoint, stating that the judiciary's judgment should be respected. The DP emphasizes the need to refrain from political interpretations of the Daejang-dong scandal. The Daejang-dong scandal remains a major point of contention in the political arena, and the outcome of future trials is expected to have a significant impact on the political situation. In connection with this case, the prosecution plans to conduct further investigations, and the court plans to proceed with the hearing on the request for release of asset seizure filed by the relevant parties.