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Suspected transfer of camouflage to a fund of 7.4 billion private equity



The seven most likely candidates for the State Relief Hearing are the Justice Department candidates. The Liberal Korean Party and the Barun Future Party have already declared themselves "unacceptable" and are also candidates for a "regime practice" run directly by the Justice Minister in the Blue House.

The Attorney General of the Secretary of State is on his way to the office at the Jeonsun Hyundai building in Yon-gu, Seoul, to prepare for the hearing of National Assembly staff in the morning. [뉴스1]

The Attorney General of the Secretary of State is on his way to the office at the Jeonsun Hyundai building in Yon-gu, Seoul, to prepare for the hearing of National Assembly staff in the morning. [뉴스1]



① Private equity, private equity … 5 opposition pointsThe hottest hearing recently is the W7.4 billion private equity investment dispute. According to Cho's request for a staff hearing, his family agreed to invest 7.75 billion won in Blue Core Problem Up Up Issue No 1 (Private Fund), managed by KOLINK Private Equity (KOLINK PE) in July 2017, although it was contradictory that the amount of money was greater than the total amount of assets (5.64244 million won ), actually invests 1.5 billion won.

Opposition parties believe the timing and size of the commitments under the fund are not obvious. It is stated that the time is insufficient, based on the commitment made two months after Cho received the presidential nomination for the presidency. It is not appropriate for a public servant to commit to invest more than his or her assets as soon as he or she is appointed as a non-profitable public servant. The opposition also claims that "is it not considered a chance to catch the Blue House" (Min Kyung-wuk, a member of the Korean Party)?

Mr Cho (Hearing Officer) explained: "Two months after the CEO's appointment, they did it because they had to do it. If you do, you cannot own shares under the civil service ethics law. You have to make a trust or sell the stock Cho and his family have chosen to sell The stock was sold in accordance with the law and the money was generated and the spouse indirectly invested it (in order to join the fund, etc.) The indirect investment it was Solved by law: $ 7.4 billion, which is greater than the size of the property, For example, a credit card limit is not the same as a credit card limit of 10 million earned per month, but a private fund is a "capital call" or method of investing when a company requires an investment. Since the investment of KRW 1,500 million was not required by the company, the term of the contract ended. I did not do the language because this is the blind investment method of equity. that investment since official stat t will be more of a problem. "

Opposition parties, however, have raised doubts about the fund and the governor. The Private Equity Fund took over an educational company that struggled with worsening revenues in 2017, changing its name to “ double FM & # 39; & # 39; and started a battery anode business. In the process, the stock price from KRW3700 ~ 4800 was raised to KRW7500 (last February). The stock dropped to around W3300. It is doubtful about the background of investment in such a place.

The opposition party also focused on the story of 1 year in prison for Cho (2 years probation) for violating the National Security Act due to his involvement in the Sano League (South Korean Socialist Labor Union) incident when he was a professor at Ulsan University in 1993. It is stated that in 1999, when I moved from an apartment in Busan with my daughter to an apartment in Pungna-dong, Songpa-gu, Seoul, I moved to camouflage because of my daughter's schoolwork. In addition, as a law professor at Seoul National University, he plans to focus on the Polypezer controversy due to the inevitable long-term absence and the problem of failure of staff checks while working at Chung Sung Min.

Yeo Sang-gu, chairman of the Judiciary Committee of the National Assembly, spoke with the Democratic Party and Kim Do-ep, the secretary of the Liberal Democratic Party and Kim Do-eup, during a public prosecutor's statement for Prosecutor Yon Sec. -July held at the Judiciary Committee in Judo, Seoul on August 8th. [뉴스1]

Yeo Sang-gu, chairman of the Judiciary Committee of the National Assembly, spoke with the Democratic Party and Kim Do-ep, the secretary of the Liberal Democratic Party and Kim Do-eup, during a public prosecutor's statement for Prosecutor Yon Sec. -July held at the Judiciary Committee in Judo, Seoul on August 8th. [뉴스1]



Conflict Notice, Managing Hearing Composition =The National Assembly Judicial Committee is one of the gunpowder among the standing committees. The Judicial Committee is chaired by Yeo Sang-kyu, a member of the Korean Party. Members of the Democratic Party include Song Ki-heon (Secretary), Kum Tae-seop, Kim Jong-min, Park Ju-min, Baek Hye-ryeon, Lee Chul-hee, Jung Sung-ho and Chun-win. Park G-won, a recent Democratic Party leader, joins the ruling party's judicial system. The Judicial Commissioners of the Korean Party are Kim Doe-eup (Secretary), Kim Jin-Tae, Lee Yong-ji, Zhang Je-won, Yong-Sik Shik and Jo Quang-dek.

As the opposition is expected to attack, hearing the candidate's staff is likely to work properly. Korean Party Judicial Commissioners are preparing for the offensive by collecting data on Cho's candidates. In particular, Kim Jin-ta, a lawmaker, said: “I know my country well. I know what you did last summer ”(12 days), with the trailer he acted as a sniper. Representative Zhang Jie-won, who was a spokesman for the opposition party, and lawmaker Zhu Quang-deok, will also be the main strikes, the party's official said.

The Democratic Party defends itself at the party level, saying: "Private equity investment has been found to be legally intact." Ju-min Park Representative, Judicial Commissioner and Party Leader, told the Enlargement Committee on July 14 that he was convinced that all Cho's efforts were related to the democratization movement during the Governing Council (former President Li Myun Buck). To lie down and spit, ”the opposition criticized. In addition to Park, MPs Lee Cheol-Hee and Jung-won Chun, who first appear as party shields, are also expected to share their roles.

③ When is the hearing?President Moon Jin received a request to congratulate a candidate in the National Assembly on the 14th. The specific timetable is determined by the governing party. The Human Rights Hearing Act, however, requires the National Assembly to end the hearing within 20 days of receiving a request for a hearing. As a result, the National Assembly is due to end its hearing of the candidates two days ago next month.

The first set date was a staff hearing for Kim Hongso, Minister of Food, Agriculture, Forestry and Animal Husbandry. It is set for 29 days. Cho's hearing is also likely to be held from late August to early September. The National Assembly should then send a report to the hearing on President Moon Jin's staff. However, if the National Assembly fails to accept the report, the president may set a deadline and request that the report be repeated. After that day, the president can nominate a candidate even if the hearing does not come.

By Han Young Ik, Staff Reporter hanyi@joongang.co.kr



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