Opposition alleges 'cash-sharing' by Seoul mayor candidate's affiliated company

The opposition People Power Party's Seoul mayoral candidate Oh Se-hoon's campaign team launched a fierce attack on Democratic Party candidate Jung Ho-young on the last day of the holiday, the 25th, alleging that he engaged in a de facto 'cash-sharing' with his close associates through 'Seongdong Future Jobs Co., Ltd.,' an affiliate of the Seongdong District Office.

This is interpreted as a strategy to shift Jung's self-proclaimed 'competent frame' to a 'incompetent/corrupt frame' by highlighting the corruption allegations.

The allegations were first raised by Chief Campaign Committee Chairperson Cho Eun-hee and Joint Campaign Committee Chairpersons Park Soo-min and Yoon Hee-sook at a press conference at the National Assembly today. The core of the allegations is that 'Seongdong Future Jobs Co., Ltd.,' established by Jung during his tenure as Seongdong District Mayor, is suspected of being a corruption cartel.

The company operates businesses that are relatively unaffected by economic downturns, such as running cafes and shops in areas like Seoul Forest and undertaking cleaning services within the district, according to the campaign team.

At the time of its establishment, the company had a capital of 300 million won, with the Seongdong District Office contributing 70% (210 million won). The remaining shares were structured such that 10% were held by related foundations, and 20% (60 million won) was invested by six of Jung's closest associates, each investing 10 million won, according to Oh's campaign team.

Among these six individuals is a former reporter from 'Seongdong Journal,' a local media outlet that received 72% of Seongdong District's public relations budget. The campaign team also added that one of the investors was a high-profile donor to Jung.

In relation to this, Oh told reporters on the afternoon of the 25th in front of Children's Grand Park in Gwangjin District, "Seongdong Future Jobs Co., Ltd. is effectively just a legal mechanism to create jobs for the Democratic Party and distribute money to Democratic Party officials and their close associates." He emphasized, "That is why I am calling it 'Park Won-soon Season 2.'"

He criticized, "If this business involved taking risks, it would be acceptable for shareholders to take profits, but if it's a risk-free, 'walking on land' type of business, it's no different from distributing cash to the district mayor's associates by giving them shareholder status and investment opportunities."

He added, "This company exclusively secures district office contracts, and profits accumulate over time. Such a structure should not allow individual investors. Allowing them turns it into a form of revenue sharing."

Cho, a former Seocho District Mayor, said, "Compared to other autonomous districts like Dongjak and Seocho, where job companies are established with 100% district office ownership, the circumstances under which Seongdong increased private ownership to 30% and provided investment opportunities to the district mayor's associates are unclear." She added, "If Jung is elected, won't it become the 'Seoul Citizens' Democratic Party Jobs Co., Ltd.'?"

In addition, Oh continued his offensive on the delayed completion of the Haengdang 7-gu역 redevelopment project in Seongdong District on the same day.

When Jung's side issued a statement arguing that 'it is difficult for redevelopment and reconstruction projects to meet completion deadlines,' Oh retorted, "To casually say that a 3-year delay is natural reveals a irresponsible attitude towards reconstruction and redevelopment." He added, "A mayor who is responsible for 10 million citizens should not say such things."

Regarding the claim made by Jung's campaign committee's 'Oh Se-hoon 10-Year Judgment Headquarters' at a press conference today that there is a document suggesting Oh received a report related to the controversy over the omission of rebar during the construction of the GTX-A line's Samsung Station, Oh drew a line, stating, "I have absolutely no recollection of receiving any such report."

Oh stated, "It seems your election prospects are not looking good. Jung, please stop trying to fight the election by relying on this issue. It looks cowardly," he shot back.

Oh's morning rallies on this day were concentrated in the northeastern part of the city.

He met with citizens starting from Gwanaksan Mountain in Gwanak District, then at Dobongsan Mountain in Dobong District, and at the Gyeongchun Line Forest Trail in Nowon District.

There, he presented a blueprint for 'Seoul Tournomics,' which aims to create hiking tourism content using Seoul's unique natural environment, such as Gwanaksan and Bukhansan mountains, and revitalize the local economy.

He also pledged to steadily complete large-scale projects in the area, including the construction of the 'Seoul Arena,' the nation's largest K-pop performance venue, the Chang-dong Station complex transfer center, and the creation of a biomedical cluster in the Chang-dong and Sanggye areas.

In the afternoon, he held a rally at Sindang Station in Jung District with lawmaker Choi Soo-jin, and lawmakers Seo Myung-ok and Ko Dong-jin accompanied him at the Suseo Station rally in Gangnam District.

In the late evening, he planned to tour Seongsu-dong in Seongdong District, the stronghold of his rival Jung, to win over voters.