Regarding the 'Baekhyeon-dong development preferential treatment suspicion,' the first trial sentencing date for Jeong Ba-ul (69), chairman of Asia Developer, who faces charges of embezzlement and breach of trust amounting to 48 billion won, has been delayed by one week.
The 27th Criminal Division of the Seoul Central District Court (presided over by the Director General) has postponed the sentencing date for Chairman Jeong, originally scheduled for the afternoon of the 28th, to the 4th of next month. Previously, the prosecution requested a 5-year prison sentence for Chairman Jeong, along with a fine of 200 million won.
Chairman Jeong is accused of embezzling and breaching trust by a total of 48 billion won from Seongnam R&D PFV, the company responsible for the Baekhyeon-dong development project, and from companies he effectively owned, including Asia Developer and Youngrim Construction, from July 2013 to March 2023.
According to the prosecution, Chairman Jeong is investigated for siphoning about 5 billion won from company funds through inflating construction costs and false salaries, using it as 'donations' to a nonprofit organization where his wife serves as the chairperson.
Of the 48 billion won embezzled by Jeong, 7.7 billion won was found to have been given to Kim In-seob, former representative of Korea Housing Technology, identified as a 'lobbyist' for Baekhyeon-dong, in exchange for facilitating permits. Kim was the head of the campaign headquarters for Lee Jae-myung during the 2006 Seongnam mayoral election.
Chairman Jeong allegedly gave money to Kim in connection with the Baekhyeon-dong development project while requesting various permits to be resolved, and it was found that Kim conveyed Jeong's requests to Jeong Jin-sang, who was then policy secretary to Lee, a close aide.
Previously, Kim was sentenced to 5 years in prison and a confiscation order of approximately 6.357 billion won by the Supreme Court for charges of solicitation of bribes last November.
Lee Jae-myung, who was then the mayor of Seongnam, along with Jeong, is undergoing a first trial for charges that he funneled projects to Chairman Jeong and excluded the Seongnam Urban Development Corporation, causing 20 billion won in damages.