Seongnam City Surprised by 'Empty Accounts', Struggles to Recover Profits from Daechangdong Private Operators
Seongnam City has initiated a comprehensive effort to reclaim criminal proceeds from Daechangdong private operators through various legal actions.
Seongnam City has embarked on a second extensive recovery operation to reclaim criminal proceeds from private operators involved in the Daechangdong project. As of this year, the city has filed additional applications to freeze and temporarily seize 10 cases related to the operators' real estate and bonds, receiving favorable court decisions. This includes three real estate properties linked to accountant Jung Young-hak and two bond cases connected to Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, among others. A focal point of this action is the seizure of apartment sales revenue claims held by Hwacheon Daeyu Asset Management. Prosecutorial reports suggest that around 82.8 billion won may flow into this account, raising hopes for successful recovery.