Minor opposition party tables bill to launch special counsel probe into land development scandal

The minor opposition Justice Party on Monday tabled a bill to launch a special counsel probe into bribery allegations connected to a high-profile land development scandal.

The bill calls for an independent probe into the “5 billion club” allegations that prominent social figures were promised 5 billion won (US$3.8 million) each from the asset management firm Hwacheon Daeyu Asset Management that reaped astronomical profits from the development project in Daejang-dong district in Seongnam, south of Seoul.

The figures allegedly include former ruling party lawmaker Kwak Sang-do, former prosecutor Park Young-soo and former Prosecutor General Kim Soo-nam.

Calls for a special probe into the case have spiked after Kwak, who previously was affiliated with the ruling party, was acquitted of graft charges by a district court earlier this month. The prosecution has since appealed the ruling to a higher court.

Rep. Lee Eun-ju, floor leader of the Justice Party, called on the ruling People Power Party and the main opposition Democratic Party (DP) to agree to the special probe into the case, saying there is “public fury” over Kwak’s acquittal.

Earlier Monday, DP floor leader Park Hong-keun also called for a special probe into the “5 billion club” as well as a stock manipulation case allegedly involving first lady Kim Keon Hee.

Six lawmakers from the DP also signed the Justice Party-led bill.

The Daejang-dong scandal has also been under spotlight due to the alleged involvement of DP Chairman Lee Jae-myung, who served as Seongnam mayor when the development project took place.

Last week, prosecutors sought an arrest warrant for Lee, though Lee denied his connection.