Court reduces prison term for financial supporter of former president

By Kim Eun-jung
SEOUL, Jan. 8 (Yonhap) -- An appellate court on Friday sentenced scandal-ridden
businessman Park Yeon-cha to two and a half years in prison and a fine of 30
billion won (US$26.4 million) on bribery charges.
Park, head of shoemaker Taekwang Industry and one-time financial supporter of the
late former President Roh Moo-hyun, was indicted in 2008 on charges of evading
some 29 billion won in taxes and bribing politicians and government officials in
return for business favors.
A lower court sentenced Park to a three-and-a-half-year jail term and fined him
30 billion won.
The scandal involving the relatively unknown businessman led to an investigation
by the prosecution into the late president, his family and close confidants on
suspicion of having received money from the tycoon. Roh took his own life in the
midst of the probe in May last year, sparking public criticism that the
prosecution was politically motivated and had dealt too harshly with the former
president.
In a separate ruling, the same court fined Park Gwan-yong, former National
Assembly speaker, 1.5 million won (US$ 1,300) and ordered him to forfeit 9.5
million won for receiving illegal political funds from Park.
ejkim@yna.co.kr
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