TAIPEI, Taiwan – The final televised presidential debate ahead of South Korea’s June 3 election was dominated by fierce scrutiny over the leading candidate from the Democratic Party Lee Jae-myung’s alleged involvement in illegal cash transfers to North Korea.
The topic took center stage during the foreign policy and national security portion of the debate, when Lee underscored the importance of dialogue and peaceful coexistence with Pyongyang. Stressing that South Korea’s defense budget is double that of the North’s, he argued for diplomacy.
However, his remarks provided an opening for conservative rival Kim Moon-soo of the People Power Party and centrist Lee Jun-seok of the New Reform Party, who launched coordinated attacks highlighting Lee’s alleged “North Korea risk.”
Kim accused Lee of being at the center of a scandal involving illegal funds sent to North Korea.
“Despite U.N. sanctions, the issue of illegal remittances to the North have surfaced. On May 9, president of the Korean American Association in Washington officially filed a complaint with the U.S. Treasury, State Department, and U.N. Security Council, accusing Lee of secretly transferring 10 billion South Korean won (US$8 million) to North Korea,” said Kim.
South Korean prosecutors allege that between 2019 and 2020, during his tenure as governor of Gyeonggi Province, Lee directed the Ssangbangwool Group to transfer US$8 million to North Korea, including US$5 million intended for a smart farm project and US$3 million to facilitate a prospective visit by Lee to Pyongyang.
Lee’s former deputy governor, Lee Hwa-young, was convicted and sentenced to nine-and-a-half years in prison for his involvement in the scheme, which encompassed bribery and unauthorized fund transfers to North Korea
