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Monday, May 09, 2005

bundles of euros

The news that a Korean politician is arrested for suspicions of corruption is not a new thing - as has lately happened for the vice mayor of Seoul Yang Yun-jae for allegedly having taken some kickbacks for real estate developers in the Cheonggyecheon project - but this is the first time I hear that Euros were found in great amount at the possession of the suspect (Hanguk Ilbo via Media Daum).

The prosecutors found in Mr Yang's office two bank books with more than 100 million won deposited, and Japanese yen worth of 10 million W and Euros worth of millions of won. Mr Yang is also being investigated for receiving 280 mil W from a certain real estate developer.

Euros in Korean bribe markets? Why not, it's a widely used currency and has gained in value compared to the US dollar. There are also notes of high denomination available like the 100 euros in the picture, so storing the cash should be relatively easy.

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