Prosecutors investigating allegations surrounding a slush fund operated by the family of the late former President Roh Tae-woo have launched a coercive investigation, raiding the home of former First Lady Kim Ok-sook.

The Criminal Proceeds Recovery Department of the Seoul Central District Prosecutors' Office (led by Senior Prosecutor So Jung-soo) has been conducting raids since this morning (August 21) on the private residence in Yeonhui-dong, Seodaemun-gu, Seoul, where Kim is staying, in connection with suspicions of violations of the Act on Regulation and Punishment of Criminal Proceeds Concealment and tax evasion by the former president's family.

The raids reportedly also target the East Asia Cultural Center and the Roh Tae-woo Center—chaired by the former president's son, Roh Jae-hun, who serves as the South Korean Ambassador to China—as well as the homes of former aides suspected of providing borrowed-name accounts.

Prosecutors have been continuing their investigation after receiving complaints from organizations such as the May 18 Memorial Foundation, alleging that the former president's family—including Kim, Art Center Nabi Director Roh So-young, and Ambassador Roh—concealed slush funds and evaded taxes.

These suspicions surfaced when the existence of funds presumed to be Roh's slush fund came to light during the divorce proceedings between SK Group Chairman Chey Tae-won and Director Roh.

During the divorce trial, Director Roh's legal team submitted a memo written by Kim, known as the "Kim Ok-sook memo," as evidence to argue her contribution to the accumulation of SK Group's assets.

The memo reportedly details financial records totaling 904 billion won.

Based on this, Director Roh's side argued that 30 billion won of the former president's funds was delivered to her father-in-law, the late SK Group Chairman Chey Jong-hyun, and used for Sunkyong Group's business activities, including the acquisition of Pacific Securities.

(Photo: Yonhap News)