Slush Fund Accusation On President Detailed

Former President Kim Young-sam, speaking through his personal spokesman, Rep. Park Chong-ung, said Thursday that the 1993 implementation of the real-name financial system during his administration exposed what he termed President Kim Dae-jung's slush funds.

"We were examining a lump sum of money that was not being transferred into real-name accounts six months after the launching of the real-name financial system. That is how we found Mr. Kim's slush funds," Mr. Park said.

The funds were held in borrowed and false-name bank accounts, he said.

This was the first time that the former president has referred specifically to how the former government stumbled upon the current president's alleged slush funds.

His personal spokesman said that Mr. Kim intends to strongly counter President Kim Dae-jung's "relentless inquiry into me and my aides."

Representative Park added that Kim Young-sam was outraged at the accusation by President Kim that he ordered an investigation into the president's funds between 1993 and 1998.

Kim Young-sam insists that the documents were stumbled upon.

by Lee Soo-ho