Seoul seeks U.S. extradition of businessman charged with fraud

SEOUL, Nov. 18 (Yonhap) -- Seoul will ask the United States to extradite a South
Korean businessman charged with tampering a defense procurement project for
illegal profit, the Justice Ministry said Wednesday.
Joo Gwan-yeop, the owner of military equipment supplier Row Technology Inc., is
accused of deceiving the defense ministry by forging parts of contracts on
production of training equipment between 2003-2008. Investigators allege he made
some 22 billion won (US$19 million) in illegal profit.
Joo fled to the U.S. in May 2007 when the prosecution launched an investigation
on the case.
The prosecution requested the Justice Ministry seek Joo's extradition after they
obtained an arrest warrant for him on Tuesday, ministry officials said.
Joo, a relative of the owner of South Korean conglomerate Hyosung Group, has also
been under another prosecutors' probe on suspicion of issuing false tax forms
amounting to 6 billion won. The ministry said it will request his extradition on
both charges.
Critics have alleged that the case was not taken up by investigators because a
family member of Hyosung Group's owner is an in-law of President Lee Myung-bak.
brk@yna.co.kr
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