Chun’s clan announces decision on fine today

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Chun’s clan announces decision on fine today

After an unprecedented probe into their wealth, the family of former President Chun Doo Hwan will make an announcement today on how they plan to handle the strongman’s unpaid criminal fine of 167.2 billion won ($154 million).

The family, which has been under growing pressure from the state to pay the balance of the huge fine handed down for corruption in 1997, said yesterday it planned to make the announcement at 3 p.m. at the Seoul Central District Prosecutors’ Office.

The prosecution has been going after the assets of Chun’s family, trying to tie them to the former president.

In June, the National Assembly passed the so-called Chun Doo Hwan Act, allowing the state to confiscate assets not only of the former president but also his family members or associates who acquired wealth from Chun.

Chun’s second son, Jae-yong, was grilled for more than 18 hours last week at the Seoul Central District Prosecutors’ Office over allegations that he evaded a gift tax worth 5.9 billion won and helped manage his father’s illegal wealth.

It was the first time a child of the former military strongman was called in for questioning.

It is expected that the Chun family will reveal today it will voluntarily pay the outstanding balance of 167.2 billion won and make an official apology to the nation.

The former president, who seized power in 1980 through a military coup the year before, was convicted in 1997 of accepting bribes and running slush funds during his seven-year presidency in the 1980s.

He was ordered to pay 220.5 billion won in fines. After paying 53.3 billion won, Chun said he had no more money left.

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