[THE INVESTOR] The prosecution on July 11 indicted National Agricultural Cooperative Federation chairman Kim Byeong-won on charges of breaking election laws regarding public entities.

The NACF is Korea’s largest agroindustry body that counts NongHyup Financial Group among its affiliates. Kim is the fifth NACF chief to be elected into office, and the fifth elected-chairman to come under investigation. 

Kim is suspected for breaking election laws in collusion with Choi Duk-gyu, the chief of NACF’s branch in Hapcheon, South Gyeongsang Province. Choi had run for office, but was pushed out in the first round. At the time Kim was running for chairmanship as head of the Naju branch in South Jeolla Province. The investigators had raided his home and office on June 17.

Choi has been indicted and remains under custody.

According to the prosecution, Kim and Choi agreed to support each other if either of them fails to go into the final round.

The investigators suspect that Choi adhered to their agreement, and sent out text messages calling for support for Kim on Jan. 12, the day of the vote. In addition, Kim is said to have asked representatives to vote for him at the venue of the vote.

Under local regulations, campaign activities are prohibited on the voting day.

By Choi He-suk (cheesuk@heraldcorp.com)