Park Young-soo, a former special prosecutor named in the so-called "5 Billion Won Club," was again handed a prison term on appeal over charges that he took money in return for helping private developers behind the Daejang-dong project. The sentence fell to six years from seven, however, as the court recognized a smaller sum than the lower court had. On the central allegations — a promised payment of 5 billion won and the receipt of money through his daughter — the appeals court upheld the acquittals handed down at trial.
The Seoul High Court's Criminal Division 15-2, presided over by high court judge Lee Hee-jun, on the 21st sentenced Park to six years in prison and a fine of 200 million won, and ordered the forfeiture of 200 million won. Park had been indicted for violating the Act on the Aggravated Punishment of Specific Economic Crimes, including taking bribes. Yang Jae-sik, a former assistant special prosecutor indicted alongside him, was sentenced to five years in prison and fined 200 million won.
The first trial had sentenced Park to seven years in prison and a fine of 500 million won, and Yang to five years and a fine of 300 million won. The appeals court did not take the two men into custody in the courtroom, citing their health conditions. Both had been detained after the first trial before being released on bail in July.
Park was indicted on charges that between 2014 and 2015 he helped private Daejang-dong developers obtain a letter of credit intent from Woori Bank for a 150 billion won project financing loan, and in return took 500 million won and agreed to receive 5 billion won. He also faced charges that while serving as an outside director at Woori Bank he agreed to receive 20 billion won in return for granting favors related to the Daejang-dong development project, and that in 2014 he took 300 million won from lawyer Nam Wook as funds for a Korean Bar Association presidential election.
Prosecutors concluded that after it became difficult for Park to take the promised 5 billion won directly, he received a total of 1.1 billion won from 2019 to 2021 through his daughter, who worked at Hwacheon Daeyu.
The first trial court, in February last year, found only one charge proven: that Park took 300 million won from Nam as funds for the bar association election. It acquitted him on the remaining main charges, including the promised 5 billion won payment and the receipt of money through his daughter.
On appeal, the amount found to have been received was reduced to 200 million won from 300 million won. The court recognized only 200 million won of the 300 million won said to have been handed over as bar association election funds. It acquitted him on the remaining 100 million won, finding that statements about how the money was delivered and where it was spent were inconsistent and that objective evidence was lacking.
The court upheld the acquittals on the core charges, including the receipt of 500 million won and the promise of 5 billion won. It found that the evidence submitted by prosecutors was not enough to establish a definitive meeting of minds between Park and the private Daejang-dong developers to pay 5 billion won at a later date.
The court also rejected the charge that he received 1.1 billion won through his daughter. It said Park and his daughter could not be regarded as a single economic unit and that there was insufficient evidence to find that the two had conspired to take the money.