Democratic Party Kim Seung-won "The Roh Tae-woo Family's Operation of a borrowed company involved in slush funds"

Rep. Kim Seung-won of the Democratic Party of Korea claimed that it has been revealed that the late former President Roh Tae-woo's family is running a borrowed-name real estate company to hide slush funds.

In a press release, Rep. Kim found that Roh Jae-heon, former President Roh's son, director of the East Asian Culture Center, owns a 60% stake in Company A, which is in the real estate business,
Company
A said it has been conducting business by borrowing billions of won from two or three shareholders, including Director Roh, without interest or unsecured, along with bank loans.

In particular, Company A was established under the name of the closest director Roh, and it was confirmed that it made profits by selling houses in Yongsan-gu, Seoul, and buildings and land in Gangnam-gu between 2017 and 2021.

Representative Kim eventually raised suspicions that Director Roh was suspected of using his aide's name to conceal his slush funds and generate real estate profits through them.