Justice Ministry: Over 50 Billion Won in Yoo Byung-eun Family Assets Frozen, Sufficient for Restitution

The Ministry of Justice has moved to clarify the status of assets related to the late Yoo Byung-eun, former chairman of the Semo Group, following recent media reports suggesting a potential reduction in recoverable funds. The ministry asserts that assets exceeding 50 billion won remain frozen, providing sufficient collateral for restitution orders.

Recent reports indicated that some assets, initially frozen under preservation orders in 2014 following the Sewol ferry disaster, had been unfrozen. These included significant properties like land in Jagok-dong, Seoul, and numerous apartments in Anseong. The unfreezing was reportedly due to the government losing third-party lawsuits filed by individuals claiming ownership of these assets, which prosecutors suspected were Yoo's hidden wealth.

However, the Ministry of Justice emphasized that these unfreezings do not jeopardize the overall restitution process. They highlighted that the remaining frozen assets are ample to cover the confirmed or pending restitution amounts from criminal cases involving Yoo's family. The ministry also noted that while some restitution amounts have been finalized, others, like the case involving Yoo's second son, are still under appeal, with final judgments pending.

In response to the legal challenges, the ministry stated its commitment to actively proving the nature of these assets as Yoo's hidden property in future civil litigation. This situation underscores the complex and protracted legal battles often involved in recovering illicit gains, particularly when assets are held under nominee names. The Hankyoreh will continue to monitor the developments in this case and the government's efforts to ensure justice is served.