Deepening MDP's split, Roh aide demands action on Hyundai loan

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Deepening MDP's split, Roh aide demands action on Hyundai loan

A close aide of Roh Moo-hyun, the presidential candidate of the Millennium Democratic Party, called Friday on Lee Keun-young, head of the Financial Supervisory Service, to resign for his alleged involvement in transferring 400 billion won to North Korea to secure the 2002 summit.

Shin Ki-nam, an executive of Mr. Roh's election committee, said the financial watchdog must investigate the Korea Development Bank, which gave overdraft loans to Hyundai Merchant Marine. "Mr. Lee must resign to ensure an unbiased investigation," said Mr. Shin. Mr. Lee was the governor of the state-run bank when the loans were given to the Hyundai affiliate. He was criticized for refusing to trace the flow of Hyundai Marine funds.

"It is irresponsible for the government to do nothing when doubts on the cozy relationship between the government and the Hyundai group are growing," said Mr. Shin.

Another official of the candidate's election camp said that Mr. Shin fine-tuned his statement with Mr. Roh in advance.

"MDP executives should make efforts to clear the doubts of the people instead of making a political issue," said Mr. Shin. "That is the only way to eliminate the cozy relationship between politicians and corporations that the party has promoted so far."

Political observers said Mr. Roh has embarked on divorcing himself from President Kim Dae-jung. Mr. Roh recently said that he would not attempt to distinguish himself by criticizing the president. "But I will show that I am really different by never resorting to authoritarianism, money and closed-door politics," he said.

Mr. Shin said that the Korea Development Bank must find out whether the loans it gave to Hyundai Marine were used properly; that the Fair Trade Commission must find out if Hyundai Marine illegally provided financial assistance to other Hyundai affiliates, and that prosecutors must trace the flow of Hyundai Marine funds to know whether the money went to the North.

Most parts of the MDP continue to defend the administration. Tension is rising within the party over Mr. Shin's statement. "I don't know where this country is headed with such groundless accusations," said Hahn Hwa-kap, the party chairman. Overtly, the remark was directed against the opposition Grand National Party, but insiders said the chairman blamed Mr. Roh also.

by Kang Min-seok

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