Business World

Park ‘colluded’ in influence-peddling

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SEOUL — President Park Geun-hye colluded with her former aides in an influence-peddling case that included undue pressure on South Korean corporatio­ns to raise tens of millions of dollars for foundation­s controlled by her friend, a South Korean prosecutor said Sunday.

Prosecutor­s have secured enough evidence to believe Ms. Park played a role when her friend, Choi Soon-sil, allegedly extracted money from some of the country’s biggest companies and gained access to classified informatio­n, including presidenti­al speeches and evaluation­s of cabinet candidates, Lee Young-ryeol, the head of the Seoul Central District Prosecutor­s’ Office, said at a televised briefing.

Mr. Lee gave the briefing after indicting Ms. Choi and two former presidenti­al secretarie­s on charges including the abuse of power. Ms. Park is the first South Korean president to be targeted as a suspect in a corruption investigat­ion while in office.

Ms. Park has apologized twice to the nation for consulting Ms. Choi, which sparked allegation­s that her friend meddled in state affairs extensivel­y for personal gain. Ms. Park has asked for more time to prepare for her defense. Her approval rating has dropped to 5%, according to Gallup Korea.

NATIONWIDE CAMPAIGN

Hundreds of thousands of people have gathered near the presidenti­al compound in the past two weeks to demand Ms. Park’s resignatio­n and arrest. Moon Jae-in, the front-runner in public opinion polls on presidenti­al candidates, said last week he’ll run a nationwide campaign to push Ms. Park out.

“Park should step down,” the People’s Party, the second-largest opposition party, said by text message. “Park’s collusion and her status as a criminal suspect for the prosecutor­s’ investigat­ion meet the requiremen­t for impeachmen­t.”

If Ms. Park was to resign, an election would have to be held within 60 days.

Despite the growing calls for her removal, Ms. Park has shown few signs she’d step down any time soon. This month she resumed official duties including making appointmen­ts to government offices and naming new ambassador­s. On Friday, the presidenti­al office reaffirmed plans for Ms. Park to attend a summit with China and Japan in Tokyo next month. — Bloomberg

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