[Editorial]Why Kwon Roh-kap`s Slush Funds Should Be Disclosed

The sudden arrest of Kwon Roh-kap, a close aide to former President Kim Dae-jung, on charges of receiving more than 10 billion won in political funds from Hyundai shows the cozy relationship between the government and businesses under the Kim Dae-jung government. This arrest is all the more shocking because the 10 billion was is not included in the 1.5 billion won Hyundai allegedly offered to Park Jie-won, the former President’s chief of staff.

In that the 10 billion was delivered to him around the parliamentary elections in April 2000, the money is highly likely to have been used for campaigns of the ruling Millennium Democratic Party (MDP). If that is true, it will be that the then government and ruling party asked a huge amount of money in political funds of Hyundai, in return for an exclusive right to inter-Korean projects. If the then government had asked for political funds, even placing the burden of expenses to improve inter-Korean relations on Hyundai, it would have been really shameless. After all, the excessive burden led to financial difficulties in Hyundai, which in turn caused the late Chung Mong-hun, Hyundai Asan Chairman, to commit suicide.

It has been an open secret within the political world that a huge amount of money was distributed to MDP candidates in the general elections in 2000. There was even talk that the MDP used more than 100 billion won in the campaigns unofficially. An MDP candidate even said, “I spent as much money as I wanted to.” It is difficult to say that the money that candidate used is not related to the political funds that Hyundai allegedly delivered to Kwon.

To seek transparency in political funds and eradicate the cozy relationship between the government and businesses, where the slush fund from Hyundai was funneled should be disclosed. Prosecutors should investigate how much money Hyundai raised in slush funds in exchange for what, where the money was flowed in, and whether Kwon divert the money to his personal purposes.

Kwon should also tell the truth, stopping his explanation that he only borrowed 1 billion won from Kim Young-wan. The wrong practice in which a person with actual power raises political funds in secret, offer the funds to election those who run for election, and call the shot in the political world should be rooted out. This is why Kwon Roh-kap`s slush funds should be disclosed.