Financial crimes unit investigating allegations of incentive payments received under a borrowed name

Korea Sports Council President Yoo Seung-min delivers a congratulatory speech. [Yonhap]
Korea Sports Council President Yoo Seung-min delivers a congratulatory speech. [Yonhap]

By Kim Do-yoon, The Herald Business

Police have summoned Korea Sports Council President Yoo Seung-min for questioning over allegations that he received incentive payments under a borrowed name and accepted illegal rebates, and said the investigation is nearing its conclusion.

Seoul Metropolitan Police Agency Commissioner Park Jeong-bo said at a regular press briefing Monday morning at the agency's office in Jongno-gu, Seoul, that Yoo was summoned and questioned on June 8, adding that police would "wrap up the investigation soon."

The allegations center on whether Yoo, during his tenure as head of the Korea Table Tennis Association, secretly received 200 million won (about $132,000) in incentive payments through the brother of his agency's chief, using a borrowed name. He is under investigation on charges including breach of fiduciary duty following complaints filed by sports organizations.

The financial crimes unit of the Seoul Metropolitan Police Agency's wide-area investigation division is probing the case after civic groups — including the Sports Citizens' Solidarity and the Culture Citizens' Solidarity — filed complaints against Yoo over allegations related to sponsorship incentives. Police plan to conclude the investigation shortly.

Yoo appeared before the National Assembly's Culture, Sports and Tourism Committee national audit in October last year and said he would "take responsibility and resign" if the illegal rebate allegations were proven true.


kido@heraldcorp.com