By Byun Duk-kun
Staff Reporter

The Supreme Public Prosecutors’ Office said on Monday it will summon former president Chun Doo-hwan’s second son Jae-yong this week as the junior Chun returned to the country from the United States on Sunday.

Jae-yong, who is suspected of having laundered more than 10 billion won of illegal funds to purchase a building in Atlanta, according to the prosecution.

The prosecution will summon Jae-yong this week for questioning over the source 10 billion won he possessed in the U.S.

The prosecution has yet to confirm Chun’s purchasing of the building. However, the prosecution suspects the money may have been part of his father’s 100-billion-won in secret funds as the junior Chun, whose only employment was with a South Korean conglomerate from August 1999 through December same year, could not have come up with such a large investment fund, according to prosecution sources.

Jae-yong got a position at Daewoo Securities Co. in August 1999 and quit his job in December that year. Then he operated his own securities and finance-related business before leaving the country for Atlanta in April last year.

The prosecution has already seized some 4.7 billion won of what they believe is part of the former president’s secret funds.

The prosecution also suspect the junior Chun may have used billions of won of his father’s secret funds to purchase a venture firm in 2000.

Former president Chun was convicted of stashing away more than 200 billion won that he had received in illegal corporate donations during his presidency, 1981-1988. Chun was ordered to repay 220 billion won in fines, but has only paid some 31.4 billion won, arguing he only has 290,000 won left in his bank account.

The former general, who served as an army general, seized power in a 1979 coup after then President Park Chung-hee was assassinated by his intelligence chief Kim Jae-kyu.

benjamine@koreatimes.co.kr