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Korea Olympic Committee quiet on Korean IOC member

February 9, 2006

SEOUL (Reuters) – The Korea Olympic Committee refrained
from comment on Thursday about a South Korean businessman
convicted of embezzlement who is also an International Olympic
Committee member.

Park Yong-sung, a former chairman of the South Korean
conglomerate Doosan Group was convicted by a Seoul court on
Wednesday along with three other family members for embezzling
about $30 million in company funds.

Park and his older brother Park Yong-oh, also a former
chairman, were given three-year suspended sentences. They were
both ordered to pay fines of 8 billion won ($8.23 million).

The IOC is investigating whether Park Yong-sung violated
its ethics rules and it could possibly expel him. Park is also
the president of the International Judo Federation.

“It is totally up to the IOC to rule on his IOC
membership,” Korea Olympic Committee official Park Kwon told
Yonhap news agency.

Other KOC officials in Seoul would not comment on the case.

A feud between the two Park brothers erupted last July when
the older brother was ousted by the younger brother as
chairman.

Park Yong-oh then filed a complaint with prosecutors
claiming his brother created a slush fund of about 170 million
won through accounting fraud and embezzling company funds.

($1=971.5 Won)


Source: reuters



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