Nothing Left…
Published: 12 Jan. 2026, 20:30
Seongnam City said accounts seized in connection with the Daejang-dong development case are effectively empty, raising questions about the effectiveness of asset recovery efforts. The city found that billions of won (millions of dollars) had already been withdrawn from accounts linked to private developers, leaving balances amounting to just 0.1 percent of the amounts claimed. It argued that prosecutors were aware of the situation but failed to share key information in a timely manner, limiting the city’s ability to prioritize assets. Mayor Shin Sang-jin urged the Justice Ministry and prosecutors to provide full cooperation without delay. [PARK YONG-SEOK]
with the Korea JoongAng Daily
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