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.