Opposition demands probe into Kim's son

Opposition demands probe into Kim's son

SEOUL (Reuter): South Korea's opposition party demanded
yesterday a probe into a son of President Kim Young-sam in
connection with the Hanbo Scandal.

Local media reported more than 10,000 books written by Hyun-
chul, the second son of President Kim, were found in a warehouse
of Hanbo Steel Co.

"The books found in Hanbo warehouse symbolize the relation
between Hyun-chul and Hanbo," said Chung Dong-young, spokesman
for the main opposition National Congress for New Politics.

"Persecutors must immediately launch investigation into Hyun-
chul and Hanbo chairman Chung Bo-keun," he said.

The opposition party said the revelation proved Hanbo had been
a sponsor of Hyun-chul and this was the key to how Hanbo had
grown to be the nation's 14th largest conglomerate.

Prosecutors said they would investigate why the books were
stored at Hanbo, but added a probe into Hyun-chul was unlikely as
long as there was no evidence that he was involved in the Hanbo
scandal.

On Friday, state prosecutors said a three-week investigation
into a loans-for-kickbacks scandal was winding down with a clutch
of President Kim's closest political allies and top bankers in
custody,

But opposition parties and newspapers claimed a cover-up and
said the prosecution had failed to ferret out the top people
behind the crisis involving loans to the failed Hanbo Steel.

Prosecutors were now focusing on unearthing evidence to
support charges against nine people arrested for their roles in a
scandal in which a firm with a net worth of just US$300 million
wrung $5.8 billion from a pliant financial system.