Ex-President Spills Beans About Political Slush Funds

      August 10, 2011 12:26

      Former presidents Roh Tae-woo (left) and Kim Young-sam (file photo)

      Former President Roh Tae-woo gave W300 billion to presidential candidate Kim Young-sam during the 1992 election, he revealed in his memoirs out on Tuesday (US$1=W1,086). Roh also admits he spent W200 billion for his presidential bid in 1987, including W140 billion provided by his predecessor Chun Doo-hwan, and W50 billion from his party.

      The two-part memoirs published by Chosun News Press contain behind-the-scenes stories from his term in office, including political funds and dealings with North Korea. "I did not make any comments after vowing before I went to jail in November 1995 to take sole responsibility for everything," Roh said about political slush funds. "But I decided it would be best to reveal key information in order for the historical record." 

      He also claims that he kept political slush funds worth hundreds of billions won even after he stepped down from the presidency because president-elect Kim Young-sam did not want to visit him at Cheong Wa Dae, "which made it impossible to hand over the money."

      Roh kept meticulous notes since his presidential tenure ended and used them to write his memoirs with the help of his aides. A first draft was apparently completed around 2008.

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