[EDITORIAL] A Full Dongbang Probe Is Needed

The investigation into claims of political and bureaucratic lobbying in connection with Seoul's Dongbang Mutual Savings and Finance Co. has come to a standstill. As each day goes by, the focus seems to move further away from the key allegations about influential politicians. We wonder if the prosecution is serious about getting to the truth.

The case involves alleged large-scale financial irregularities as a result of bribes and lobbying. If bribes and lobbying are at the heart of the matter, financial irregularity is a secondary issue. The focus should be on bribes and lobbying.

However, the prosecution has been intent on delving into illegal financial transactions. It has turned a blind eye to the heart of the matter.

The prosecution's passive attitude and reluctance to investigate fully have been obvious in many areas. Above all, there was the problem of dealing with Financial Supervisory Service director Jang Rae-chan, suspected of being a link between Dongbang, FSS executives and politicians. Although Mr. Jang was a strong suspect and allegations against him were confirmed, the prosecution made no serious effort to arrest him. While Mr. Jang was in hiding, he kept contacting FSS officials and his family. In such a situation, it is hard to believe that investigators could not find him.

Are we really expected to believe investigators' claims that they did not watch Mr. Jang's house because they thought it was empty and that they did not know that he went to his house on the day he committed suicide? The prosecution deserves criticism that its probe was deliberately lax to allow Mr. Jang to settle his affairs.

And why has the prosecution been exerting more pressure on the head of the failed Korea Digital Line, Chung Hyun-joon, than on Dongbang Mutual Savings and Finance's vice-chairwoman Lee Kyung-ja,in the course of investigations on them?

Before the two were summoned to the Prosecutor's Office, Mr. Chung suggested that influential politicians were involved. But Ms. Lee flatly denied the allegation. As the probe has progressed, most of Mr. Chung's associates have been arrested and subjected to intensive questioning. In contrast, few people close to Ms. Lee have been arrested. Her associates and key suspects － the Dongbang Mutual Savings and Finance president, Yoo Jo-woong, and the Shinyang Factoring president, Oh Ki-joon － have fled abroad.

In Mr. Oh's case, it is a mystery why the prosecution did not try to subpoena him until several days after he left for Guam.

Given the explosive potential and ramifications of the case, investigators must get to the truth. Suspects may kill themselves or flee overseas, but this is no excuse for an investigation not to be carried out fully. The same applies to those people who used false names to invest in Mr. Chung's private funds.

The question is whether the prosecution has the will to get at the truth. Most people believe this is the key point － if the prosecution has the will, it can do the job.

Despite lingering suspicions of political involvement, there are reports that the Dongbang investigation is nearly complete. Sources say the prosecution will rule that the affair was a simple case of stock price manipulation by a venture capitalist with a far-fetched dream and an immoral loan shark, in conjunction with a few FSS executives.

We urge the prosecution not to increase public distrust with another dubious conclusion.