Two former presidents’ hidden assets should be tracked

The Seoul Central District Prosecutors` Office on Friday launched a task force to collect a fine from former President Chun Doo-hwan levied in 1997 as part of a court ruling against him for stacking up slush funds while in office. The task force is consisted of seven well-experienced prosecutors and expert investigators and will be supported by high-tech criminal investigators of the Supreme Prosecutors` office. The move came after Prosecutor General Chae Dong-wook instructed senior prosecutors to take measures to collect the fine, saying, "Outstanding fines can be seen as a result of dereliction of duty by law enforcement agencies.”

In 1997, the Supreme Court ordered the former president, who had been found guilty of creating slush funds while in office, to pay a fine of 220.5 billion won (195 million U.S. dollars) in restitution, ruling that the money he took from local tycoons was bribes. Although Chun was also found guilty of his 1980 military coup and massacring people protesting it, he was released in December 1997, just eight months after his conviction, by a special pardon by the then President Kim Young-sam. The original deadline for the collection of the fine was April 16, 2000 but it was extended to October 10, 2013 due to slow progress in collecting the fine. The government has yet to collect 167.2 billion won (148.7 million dollars) and find Chun`s hidden assets by October 10.

It is desirable for the prosecution to form the task force even belatedly. In 2004, Chun claimed that he did not have the money to pay the fine because he had only 290,000 won (268 dollars) in his bank accounts. Just one year later, however, the prosecution found his real estate in southern Seoul and seized it. He was found going on overseas golf tours and his granddaughter had a luxurious wedding ceremony at a top-notch hotel. Who would believe his claim over poverty?

Former President Roh Tae-woo was also ordered by the Supreme Court to pay 262.8 billion won (233.7 million dollars) in fine for the same reason in 1997. Roh has 23.1 billion won (20.5 million dollars) in overdue fine, relatively small compared to Chun`s. Is it because Chun was cleverer in hiding his assets or because the prosecution was not willing to track down Chun’s assets?

Ordinary citizens who are late in paying resident taxes or national health insurance premium just once are levied surcharges and pressed for payment. If former presidents live above the law and the government is not willing to make them pay the fines, who would view such a country as one ruled by law? The prosecution should track down the former presidents’ assets until the end. That is the only way it can overcome its dereliction of duty and re-establish social justice.