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Writer Kim Heewon
Phone number ********
Subject Gangdong-gu Office official who embezzled 11.5 billion won and applied for the preservation of confiscation of all property

Police have applied for confiscation and collection preservation before indictment against Kim (47), a public official at Gangdong-gu Office in Seoul, accused of embezzling 11.5 billion won worth of facility construction funds for stock investment.

Gangdong Police Station in Seoul applied for confiscation and collection preservation before indictment for about 570 million won worth of homes and vehicles in connection with the Kim case, which is suspected of embezzlement on duty the afternoon of the previous day (4th).

Confiscation and collection preservation before prosecution will be decided if the police apply → the prosecution's claim → the court's citation is made, and the redemption process will proceed if the court finds the case guilty.

The preservation of confiscation before prosecution prevents suspects from disposing of illegally acquired property such as real estate before the court's judgment on charges. The preservation of additional collection before the prosecution is a measure that prevents the authorities from disposing of real estate and other property in order to collect the amount if the suspect uses profits acquired from the crime.

Kim is accused of embezzling 11.5 billion won in the Seoul Housing & Urban Corporation's waste treatment facility installation fund, which works at Gangdong-gu Office's investment attraction department and has to be used to build a resource circulation center from December 8, 2019. Of these, 3.8 billion won was deposited back into the district office account in May 2020, but most of the 7.7 billion won was lost through stock investment.

The remaining amount is reportedly about 5 million won. Even if real estate and vehicles owned by Kim are confiscated or collected in the future, it will be difficult to fill all 7.7 billion won.

On the 3rd, the police arrested Kim and sent him to the prosecution on five charges: ▲ embezzlement under the Specific Economic Aggravated Punishment Act ▲ forgery of official documents ▲ forgery of official documents ▲ preparation and event of false official documents. The police believe that Kim continued to touch public funds as losses accumulated in stock investments in various stocks.
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