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The Prosecution, “ Tracking Lobbying Activity of Sports ToTo”.

The Prosecution, “ Tracking Lobbying Activity of Sports ToTo”.

Posted April. 01, 2002 08:51,   

한국어

The prosecution stated on 31st that `Tigerpools International`, big share holder of Sports ToTo Co. Ltd, which manufactures sports clothes brand `sports ToTo` is under suspicion of lobbying activity for taking over the business rights.

The supreme Public prosecution office (Chief of Prosecutors, Kim Jong-Bin) stated that they have been collecting related information since last year relating to tiger pools lobbying with high ranking officials and politicians.

The prosecution concerned said, “ we judged that it was necessary to start investigation, however we were not able to do so, as there were other big issues” and “ it is not easy to start investigation right now, however, the truth has to be verified ”

There are many people within the prosecution who feel that investigation of lobbying activity of tigerpools is inevitable.

One prosecutor said, “ it is a matter of time, and investigation is bound to be carried out, as many clues on the suspicion of crime were collected already”

On the other hand, Song Jae-Bin C.E.O of tigerpools urged with regards to the article of the newspaper (A1 page on 30th) `suspicion of lobbying activity with high relatives who are high ranking officials is raised in connection with procuring the Business rights of Sports ToTo` saying,“ it is not a true”.

Mr. Song said, “ we received business rights in February last year, and I met Mr. C, who was an advisor of ruling party in the beginning of the current government, in April last year, for the first time in order to get help regarding introduction of foreign capital and it has nothing to do with obtaining of business rights.”

Mr. Song said, “as Mr. C thought sports ToTo is prosperous, therefore he advised to buy 300 million won value of shares to near ones. However shares belong to tiger pools, which is a holding company of sports ToTo no matter who possesses shares, and it is through exchange by shareholders”.



Myoung-Gun Lee gun43@donga.com