Court to Rule on Confiscation of W23 Bil. of Roh's Slush Fund

Article excerpt

The prosecution will hear from the high court next month whether it can confiscate the 23 billion won in slush funds entrusted with Ssangyong Group chairman Kim Suk-won by former president Roh Tae-woo.

The Seoul High Court said yesterday that it will makes it a final ruling on June 13.

Kim appealed the lower court's ruling to the high court on March 29 last year. The lower court ruled that Kim pay back 20 billion won of the graft money and 3 billion won in accrued interest to the state.

The Seoul District Prosecutor's Office is determined to confiscate 23 billion won from Kim's accounts if the high court upholds the lower court's ruling, an official said.

Earlier, Roh has failed to pay 88.5 billion won of the total 262.8 billion won in slush funds that the Supreme Court ruled to be confiscated in April 1997.

In a separate case, the Seoul District Court Saturday ordered that part of former president Chun Doo-hwan's assets be confiscated in a bid to prevent the statute of limitations from expiring on his graft conviction. …