South Korean Former President’s Home Seized By Prosecutors

Posted by: Kyeyune Andrew Jonathan in World news March 23, 2021

Prosecutors in South Korea have seized the house of former president Park Guen-Hye. They will auction it off due to her failure to pay a $19 million penalty for corruption.

In 2017, after anti-corruption protests centred on allegations that she let a shadowy confidante meddle in state affairs, she faced impeachment. The state subsequently jailed her for 20 years for bribery and abuse of power.

The former president failed to pay fines and forfeits that total 21.5 billion thereby failing to beat the deadline last month. This prompted authorities to take over her home that will soon be publicly auctioned.

According to media reports, Park’s two-story house in an affluent neighbourhood in southern Seoul was appraised at 2.8 billion.

In addition to a separate consecutive to-year term for election law violations, Park – the country’s first female president – faces a total of 22 years behind bars. She will be in her 80s if she completes her full sentence.

The scandal exposed shady links between big businesses and politics in South Korea. Prosecutors accused Park and her close friend Choi Soon-Sil of taking bribes from large corporations. Some of these include Samsung Electronics that gave bribes in exchange for preferential treatment.
Park’s left-leaning successor Moon Jae-in slid into power after a public backlash against her and her conservative party.

It should be noted that the court convicted all four of South Korea’s living ex-presidents of criminal offences. This usually happened once their rivals have moved into the presidential Blue House.

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