Seoul court postpones closing hearing for Yang and Genencell founder Kang

  • Kang said Yang asked him to make a 5 million won donation to Kim Seung-won.
  • Prosecutors allege Kang gave Yang 600 million won disguised as investment funds.
  • Seoul court postponed closing procedures until November 12 during Kang’s separate appeal.

Yang, a broker, and Kang, founder of Genencell, face allegations that they sought expedited approval for Genencell’s COVID-19 treatment clinical trial plan through Kim Seung-won, then a National Assembly member and nominee for Minister of Justice. Kang now says Yang asked him to make a 5 million Korean won political donation to Kim because Yang lacked the money and was grateful for Kim’s legal advice. Prosecutors allege Kang instead provided Yang with 600 million won disguised as investment funds for brokering the approval request and that the pair agreed to the donation as part of a bribery conspiracy. Kang denies promising Kim any favor, saying he only relayed a complaint after the approval process failed to produce a result, and rejects allegations of a romantic relationship with Yang. The Seoul Western District Court postponed closing procedures until November 12 at 4 p.m. while awaiting the outcome of Kang’s separate appeal and allowing the defense to review the prosecution’s evidence list. Separately, Kang-linked teams and companies received 2.5311 billion Korean won in government support and investment, excluding 555 million won in technology guarantees, between May 2007 and September 2023.

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