South Korea indicts opposition leader Lee over property graft

22/3/2023 14:31

        South Korean prosecutors indicted opposition leader Lee Jae-myung on corruption charges in a $1 billion property development scandal dating to his previous stint as a mayor.
        
        The Yonhap news agency said, Lee, chair of the main opposition Democratic Party, who lost to President Yoon Suk Yeol in last year's election, faces several charges, including bribery, corruption, breach of trust and conflicts of interests.
        
        Prosecutors have sought to arrest him after an 18-month investigation into the 1.5 trillion won ($1.15 billion) construction project. Parliament, where Lee's party holds a majority, voted down a motion last month to waive immunity granted to lawmakers.
        
        Prosecutors have said Lee colluded with a group of private property developers when he was mayor of Seongnam, just south of Seoul, to help them rake in more than 800 billion won ($611.5 million) from the project, while inflicting losses of nearly 490 million won on the city.