SK Group Chairman Accuses Former President Park

The chairman of South Korea's second-largest conglomerate testified in court and confirmed that he had contributed money in exchange for preferential treatment from the government.

SK Group Chairman Chey Tae Won. Photo: Reuters

SK Group Chairman Chey Tae Won has admitted to prosecutors' allegations that ousted South Korean President Park Geun Hye demanded bribes from businesses in exchange for policy favors, the Korea Herald reported.

Mr. Chey became the first businessman to testify at the trial known as the “trial of the century” in South Korea.

The chairman of the second largest conglomerate in South Korea (after Samsung) was one of seven tycoons that former President Park secretly met with in February 2016 near the Blue House, the South Korean presidential office.

At the trial on June 22, SK Chairman confessed that when he met Ms. Park, he tried to push the government to approve a merger and acquisition project and grant a duty-free shop business license.

During the February 16, 2016 meeting, Mr. Chey also suggested to the Blue House leader to soon release Chey Jae Won, his younger brother and also Vice Chairman of SK Group, who was detained at that time for embezzlement. In court, Mr. Chey admitted that he did not raise the issue again when he saw no reaction from Ms. Park on this issue.

Chey Tae Won was pardoned and released from prison in 2015 in connection with embezzlement charges. His younger brother Chey Jae Won was released last year but was removed from the presidential pardon list issued in August 2016.

When questioned by prosecutors today, Mr. Chey Tae Won admitted that Ms. Park “expressed gratitude” for the 11.1 billion won (equivalent to 9.7 million USD) that SK donated, and asked for continued cooperation for the two non-profit foundations Mir and K-sport.

The funds are believed to have been run by Choi Soon Sil, a close friend of Ms. Park.

After SK made the donation, Ahn Jong Beom, one of former President Park’s senior aides, asked SK Group to donate an additional 8.9 billion won to one of the two funds. However, SK refused and its request for preferential policies for the group was also rejected.

SK Group Chairman Chey Tae Won testifies in court on June 22 in Seoul. Photo: AFP

Meanwhile, Ms. Park denied the above allegations, asserting that the companies voluntarily contributed to two funds that she said were set up to develop culture and sports.

For his part, Samsung Group leader Lee Jae Yong also denied asking for policy incentives when meeting with Ms. Park, saying that Samsung was a victim of "blackmail."

According to AFP news agency, former President Park and her close friend Choi Soon Sil are being detained and tried on charges of receiving or attempting to receive millions of dollars in bribes from many large corporations.

If convicted of corruption, Park faces a minimum sentence of 10 years in prison and a maximum of life in prison.

According to Tuoi Tre