Gyeonggi Governor Lee Jae-myung announced on the 19th the 550 billion won case in Daejang-dong new town led by a special corporation, saying, "I brought a jackpot to the citizens of Seongnam by mobilizing a method that was not in the system."
Hwacheon Daewoo CEO Lee Seong-moon said on the 19th to the Hankook Ilbo, "The former Supreme Court Justice Kwon and the major shareholder Kim have been close for a long time."
'Cheonhwadongin' No.2-7, which is connected to Hwacheon Daeyu, a 1% (50 million won) investor from 'Seongnam's Garden', a public-private joint special purpose corporation, quickly received a high dividend, and Seongnam City and special corporations were pushed back due to early execution of high dividends in the new city project it happened
Seongnam Urban Development Corporation under a public-private joint cause 2.5 billion won (50%) Bank insurance companies 2.15 billion won, etc., put an upper profit ceiling in the contract in advance, and the 50 million won investor Hwacheon Daeyu received a 1100 times higher dividend, and Hwacheon Daeyu appointed by the owner of this Hwacheon Daeyu In Daeyu, 120.8 billion won in Cheonhwa-dong and 225.5 billion won in units 2-7 were allocated early.
Cheonhwa-dongin No. 1 is the major shareholder, Mr. Kim (legal journalist), Cheonhwa-dongin No. 2 and 3 are relatives of the major shareholder, Mr. Kim, No. 4 lawyer (Gangnam Law Firm), No. 5 is an accountant, No. 6 is lawyer Jomo (Gangnam Law Firm), No. 7 was made up of representatives of Mr. Kim, etc., and the dividend was uniform and quick.
Regarding ‘early dividend’, Hwacheon Daeyu CEO Lee Seong-moon (lawyer) told the Hankook Ilbo on the 19th, “The Daejang-dong development project is a new town development project. Because the business period is long, the risk of economic fluctuations is high. It is for this reason that many real estate development companies went bankrupt when a global financial crisis such as the Lehman crisis in 2010 struck. The Daejang-dong development project started in 2015 and is expected to be completed in December 2021. It is a project that takes seven years,” he said as a measure to prepare for a drop in profits due to fluctuations.
CEO Lee confirmed to the Hankook Ilbo, 'Participation as a senior major shareholder, Mr. Kim', and placed a ring of a small amount of Cheonhwa Daeyu in Seongnam's Garden, a special corporation, and through this, he improvised Cheonhwa Daeyu 1-7 and activated Cheonhwa Daeyu to pay early dividends. It seems that public-private partnerships were excluded from the beginning.
In the presidential debate, Governor Lee said, "If I hadn't intervened to block it, all profits, including KRW 550.3 billion that Seongnam City has now acquired, would have been attributed to the private sector." The gate was hidden and was tackled by me, so Seongnam City recovered more than 550 billion won through public redemption.”
Lee Seong-moon told the Hankook Ilbo, “Isn’t it difficult to see former Supreme Court Justice Kwon Soon-il, former Special Prosecutor Park Young-soo, and former Suwon District Prosecutor Kang Chan-woo as experts in the real estate and finance fields? I don't think I have a high level of understanding of the development project, but when asked, "Why did I have to hire him?", he said, "It's because of my relationship with Kim, the major shareholder, who worked as a legal reporter for a long time. My relationship with them has been long since Kim entered as a legal reporter. "How could we have recruited such famous people if we didn't have close friendships? It's purely personal, nothing more, nothing less."
When asked if he should have rejected the offer as an advisor, as there may be rumors about Governor Lee Jae-myung, he said, "If Governor Lee Jae-myung is acquitted even though former Supreme Court Justice Kwon and the major shareholder Kim are not close, the logic of recruiting Bo Eun-seong is theories. It makes sense, but the two have known each other for a long time. If they had tried to solicit or lobby through the recruits, they would not have given them an official advisory position, but secretly paid back money. It's just bringing people together," he said.
Cheonhwa Daeyu seems to have borrowed the term used by the scholars of the Spring and Autumn Warring States Period, who demanded the monarch for the right to sacrificial rain and military command as a great harvest (大有) was coming soon.
Minbae Kim, the largest shareholder of Hwacheon Daeyu, said in a weekly call on the 1st, "I don't run a business and have stocks and there is no problem" "The development is not finished yet" "The profits are all in the bankbook" "Corporation pursuing profits", etc. On the 21st, Weekly Trend revealed that he said, “I had a thought in my mind when I was young.”