Tycoon's suicide note stokes South Korean scandal

President Park Geun-hye of South Korea is facing a political crisis after allegations that aides and ruling party lawmakers received illicit funds for her 2012 election campaign.

The scandal was sparked by a suicide note left by Sung Wan-jong, a construction tycoon and main target of an investigation into the country's failed quest for overseas energy resources.

The note, found in Sung's pocket after he was found hanging by his tie from a tree on Thursday, listed eight politicians and the sums with which he had allegedly bribed them.

On the list were Lee Byung-kee, Ms Park's chief of staff, Huh Tae-yeol and Kim Ki-choon, his two predecessors, Lee Wan-koo, the prime minister, and Hong Moon-jong, a lawmaker who managed the 2012 election campaign.

Mr Sung had said in an interview with daily Kyungyhang newspaper that he had given Mr Hong about Won200m in the belief it would be used for Ms Park's election campaign. He also alleged he had given the prime minister Won30m when he was running for a parliamentary election in April 2013.

All of those on the list has denied the allegations but the affair has pushed Ms Park's approval rating below 40 per cent, fuelling public suspicions that corruption is still prevalent in Korean politics.

Ms Park told prosecutors on Sunday to investigate the allegations "without sanctuary". The scandal comes two weeks before an April 29 by-election viewed widely as a test of confidence in her administration in the middle of its five-year term.

The ruling party convened an emergency meeting this week to minimise the political damage. The prime minister, who has pledged to root out corruption, said he would co-operate with the investigation.

The scandal is expected to deal another blow to Ms Park, who has faced leadership crises related to the government's handling of last April's ferry disaster and allegations of influence-peddling by her former aide.

The ferry disaster, which cost more than 300 lives, remains a political liability for the president as its first anniversary approaches.

"The scandal has served as a public reminder that the problems of money politics still exist in Korea," said Han Jung-hoon, a professor of politics at Soongsil University. "It will be another political burden for the president at a time when she already faces public disappointment over her administration."

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