A venture company borrowed vast amounts of money with credit guarantees from two public financial agencies after President Roh Moo-hyun¡¯s nephew Roh Jie-won became an executive in the firm in 2003, lawmakers said Tuesday. The company, Woojyun Systec, was taken over by Ziko Prime, the distributor of the arcade game ¡°Sea Story¡± that is at the epicenter of a game arcade scandal.
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A man passes by lettering saying ¡°Cultural Industry¡± on the window of the office in charge of game arcade-related business at the Culture and Tourism Ministry in Seoul on Tuesday.
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A member of the main opposition Grand National Party¡¯s fact-finding committee, Rep. Lee Myung-gyu, on Tuesday cried foul over the firm¡¯s favorable treatment. Lee said Woojyun borrowed W850 million (US$1=W956) with a guarantee from the Kibo Technology Fund in 20003 and W1 billion with a guarantee from the Korea Credit Guarantee Fund in 2004. The company also received state subsidies of W5.5 billion after the younger Roh was registered as a Woojyun executive in November 2003. The National Assembly¡¯s Commerce, Industry and Energy Committee chairman Lee Yoon-sung said Woojyun borrowed a whopping W3.2 billion altogether with credit guarantees from various state-run financial agencies based on figures from the Small Business Corporation.
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Prime Minister Han Myeong-sook talks to Culture Minister Kim Myung-gon about the games arcade scandal.
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Meanwhile, Prime Minister Han Myeong-sook declared herself ¡°deeply disappointed¡± by the Culture and Tourism Ministry¡¯s failure to nip the rapid expansion of the adult arcade game industry in the bud and delivered a public apology as the head of the Cabinet on Tuesday.
In a meeting with Culture Minister Kim Myung-gon and other officials at the ministry, the prime minister reprimanded them for failing to anticipate the negative effects from the widespread use of gift certificates in lieu of cash winnings, and for their short-sighted handling of the mushrooming slot machine business. The only thing we can do now is to dispel public suspicion over the issue through investigations by the Board of Audit and Inspection and the prosecution,¡± she was quoted as telling them. ¡°If you are found guilty, you will have to take responsibility. If you are innocent, you will regain your honor.¡±
(englishnews@chosun.com )
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