Man indicted for circulating false rumors in cyberspace

SEOUL, Jan. 22 (Yonhap) -- Prosecutors indicted a man on Thursday for allegedly
spreading false rumors on the Internet that they say cost the country billions of
dollars in economic damage.

The 30-year-old, whose last name is Park, was arrested earlier this month.
Investigators said they have confirmed he is the blogger "Minerva" who was behind
a posting in July that said the finance ministry had suspended all foreign
currency exchanges and another in December that said the government had ordered
local financial institutions to stop buying U.S. dollars.
The prosecution claims the December posting led to dollar hoarding, forcing the
government to hurriedly inject US$2 billion to stabilize the currency market.
Some dispute has been raised as to whether Park really is Minerva, who takes the
namesake from the Roman goddess of wisdom. A local magazine reported last weekend
that the blogger is in fact a group of seven people, and does not include the
prosecution's suspect.
Park's arrest has stirred up heavy debate here on the limits of freedom of
expression and whether the postings can be considered criminal.
Minerva quickly gained a following after accurately predicting the collapse of
U.S. investment bank Lehman Brothers Holdings and the decline of the local
currency. The blogger has written hundreds of postings analyzing the financial
crisis and has harshly criticized the government's economic policy approach.
The Seoul Central District Prosecutors Office said Park acted against the public
interest by spreading false rumors while knowing the extent of his influence.
Investigators described Park as a self-taught community college graduate who has
no career experience in the financial sector.
brk@yna.co.kr
(END)