South Korean president-elect to face inquiry

By DPA

Seoul : Outgoing South Korean President Roh Moo Hyun Monday named a former judge to lead an independent inquiry into his elected successor, Lee Myung Bak, on stock fraud charges.


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Lawyer Chung Ho Young, a former chief of the Seoul High Court, pledged to be impartial and do his best to discover the truth behind the charges against Lee.

Chung has 40 days to complete his team’s inquiry – the first criminal investigation against a president-elect in South Korea. It must be wrapped up before Lee’s Feb 25 inauguration because after taking his oath of office, Lee would have immunity.

Meanwhile, Korea’s constitutional court was debating a petition from Lee’s relatives and former business partners contesting the legitimacy of a special inquiry into the future president.

The national assembly ordered the investigation two days before the Dec 19 presidential election, which the conservative opposition politician won.

Lee, 66, is charged with cooperating in 2001 with his former business partner Kim Kyung Joon in manipulating the stock price of BBK Asset Management.

A recently released video showed Lee saying in 2000 that he had established the now-folded investment-consulting company although he said throughout his election campaign that he had no links to the firm.

State prosecutors cleared Lee just days before the presidential election in their investigation of the charges but indicted Kim.

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