Prosecutors indict DP Chair Lee Jae-myung

Democratic Party (DP) leader Lee Jae-myung, center, with DP leadership at the National Assembly, Wednesday. [YONHAP]

Prosecutors indicted Democratic Party (DP) leader Lee Jae-myung without arrest for the profiteering scandals regarding the Wirye and Daejang-dong development project and for the illegal corporate sponsorship to the Seongnam football club.

Lee's indictment comes a year and a half since the investigation into the Daejang-dong case first started.

The Seoul Central District Prosecutors’ Office on Wednesday indicted the DP chair on several charges including breach of duty, conflict of interest, corruption, bribery and criminal proceed concealment.

Prosecutors claim Lee contributed to some 489.5 billion won ($382 million) in financial damages to the Seongnam Development Corporation in a breach of trust by approving the removal of a profit-sharing arrangement for the Daejang-dong project, enabling private contractors to pocket exponential profits.

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]