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FKI executive summoned over scandal-ridden foundations

[THE INVESTOR] An executive of the country’s largest business lobby group was summoned on Oct. 25 in relation to the two nonprofit foundations, allegedly linked to a controversial figure with ties to President Park Geun-hye.

Lee Yong-woo at the Federation of Korean Industries was called in by the Seoul Central District Prosecutors’ Office to face questions over the Mir Foundation and K-Sports Foundation.

Established in 2015 and early this year, the two foundations are suspected of raising a combined 80 billion won (US$70 million) from conglomerates with the help of the FKI.

There have been allegations that the money was funneled to Choi Soon-sil, who is viewed by some to be the behind-the-scenes power broker of the current administration. Choi is the daughter of Park’s late mentor.

Prosecutors also summoned an employee at the FKI and another employee at the K-Sports to question them over the details of the fundraising.

Korea Herald daum