Rep. Chung Doo-un of the ruling Saenuri Party was acquitted in a retrial Friday of charges that he received bribes from a savings bank.

Chung was indicted on charges of receiving 140 million won (US$137,600) in bribes from former Solomon Savings Bank chairman Lim Suk in return for using his influence to help the bank avoid regulatory audits and punishment.

"There is no tangible proof showing that Chung received illegal political funds, and the testimony of the bribery giver is inconsistent, which lacks credibility," the Seoul High Court said in its ruling.

The ruling allows Chung to retain his parliamentary seat for the time being. Chung, who was a close aide to former President Lee Myung-bak, was charged with violating the Public Official Election Act.

Under the act, a confirmed prison term or a fine of more than 1 million won handed down to a lawmaker results in the loss of his or her parliamentary seat.

A lower court earlier sentenced Chung to one year in prison for bribery. A Seoul appeals court, partly overturning that ruling, reduced the jail term to 10 months. The Supreme Court in June, however, again overturned the ruling and sent the case back for a retrial (Yonhap)