Posted on 02/04/2003 9:33:30 PM PST by TigerLikesRooster
National Intelligence Agency Wired Money to N. Korean account in Macao
223.5 billion won(my note: 200 million dollars) sent one day before the Kim Dae-Jung's visit to N. Korea
The Result of Audit Agency's investigation...
Korea Exchange Bank --> Chinese Bank in Hong Kong --> Macao --> Pyongyang
It is confirmed that 223.5 billion won(my note: 200 million dollars), which was previously reported to be sent secretly by Hyundai Merchant Marine, was wired from the main office of Korea Exchange Bank's operations department by National Intelligence Agency on June 12, 2000, one day before the president Kim Dae-Jung's visit to N. Korea.
On Feburary 4, 2003, the Audit Agency reported that the money in question was deposited to N. Korean account in Chinese bank (Bank of China) in four different transfers, which the Chinese bank wired again to the account of N. Korean company. In this tranactions, the National Intelligence Agency actively participated by giving approval to the foreign exchange transactions, instead of Hyundai Merchant Marine.
The National Intelligence Agency requested to Kim Kyung-Rim, then the president of Korea Exchange Bank the currency exchange for checks which the agency got from Hyudai Merichant Marine, and the president Kim approved it, it was reported.
This report gives more credibility to the assertion of the opposition, the Grand National Party, that Hyndai Merchant Marine's 400 billion won loan from Korea Development Bank was the payback to N. Korea for having South-North summit. The Grand National Party claimed, during the parliamentary government audit in the last year, that the reason why the summit was delayed from June 12-14, 2000 to June 13-15, 2000 is because all the promised sum of money was not delivered to N. Korea in time. The party also maintained that additional money was deposited into N. Korea's secret account just before the summit.
According to Banking Industry sources, on June 12, 2000, 200 million dollars were wired to Hong Kong through the business operations department after obtaining the routine foreign exchange approval.
The currency exchange, depending on its nature and usage, can be done with the approval of the president of the bank who handles foreign currencies or the governer of Bank of Korea or the Minister of Finance and Economy.
A high ranking figure in Korea Exchange Bank commented that his bank was the mere way station in these transactions. He added that, with a legitimate approval, 200 million dollar transaction can be done by the desk employees regardless of the nature of the fund.
Korea Exchange Bank commented that it cannot divulge the details of customer's transactions because it is against the Real Name Bank Account Law.
It is top news all over the place, including KBS TV. Great graphic showing the payoff to North Korea to get a Nobel Peace Prize. Kim Dae Jung (president in the south) should get treason charges for this. He is in the same ilk as Jimmy Carter and BJ Clinton, who put personal gain against the very lives of their 'servants'.
What he did is worse than any other presidents in S. Korea ever did. Shame! Shame! But he has no shame. Only huge ego.
All those academics, journalist types both inside and outside S. Korea who gushed over him, I hold all of them as accomplices of this crime. I spent so much time explaining to these losers that he is a stupid egomiac and a crook. All I got was the looks of disbelief and denial. Now they all would try to slither away, treating this as an unfortuante minor press item.
I have to tell you that Kim Dae-Jung and Kim Jong-Il never betrayed my expectations. All of my worst fears on Kim Dae-Jung have come true. So have ones on Kim Jong-Il starting one year after his father's death. I held out some hopes right after Kim Il-Sung's death. But Kim Jong-Il has never disappointed me since. Now I could claim the perfect score if he pushes this crisis to the brink and it blows up in his face. I also think that his regime will crack after a truly hair-raising stand-off against America.
On the order of billions of dollars. But this particular transaction and others yet to be made public are cash payments, not in materials like grains or heating oils. That makes it really bad.
I remember how ecstatic Wall St. Journal and New York Times were when Kim Dae-Jug was elected. For different reasons. WSJ wanted him to do all the list of things Wall St. wanted from S. Korea. They do not care if he is a crook or if he will do only selective reforms while shielding his beloved corporate crony Hyundai which is most corrupt of all big corporations. NYT loved him for obvious liberal reasons. He is into a major appeasement of N. Korea which has been a NYT's favorite.
Now both papers should eat crows along with liberal medias in S. Korea.
All foreign investors and businessmen in S. Korea are shocked to find this. But the problem is that they have not been paying attention when his detractors sounded alarms five years ago. They ignored such warnings as rantings from those who are behind time. Now they got what they deserve. But they will blame only S. Koreans not themselves.
Those supposedly "sophisticated" financiers and journalists can be real cowards. You know, those globalist types.
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