Kim8217;s son charged in graft cases

Kim Hyun-Chul, 37, was charged with taking 3.22 billion won 3.6 million in bribes from two businessmen seeking government contracts and licenses and his influence in a court case over a stock dispute.

Prosecutors also charged him with taking 3.39 billion won 3.8 million in cash from four businessmen and laundering the money to evade 1.5 million in taxes. Those payments were not bribes, they said.

The younger Kim, arrested on May 17, was the first close relative of an incumbent South Korean President to face criminal charges.

Such a prosecution move would have been unthinkable when the nation was ruled by the military leaders who preceded Kim. If found guilty of both bribery and tax evasion, he could be sentenced to life in prison.

The case has destroyed the President8217;s credibility in the run-upto a December presidential election. By law, Kim cannot run again, but he had wanted to influence the result.

Kim had hoped the son8217;s punishment would enable him to leave the humiliating scandal behind. But he still is struggling with Opposition allegations that he spent 20 times the legal limit for his 1992 campaign.

In the past week, thousands of students demanding the President8217;s resignation clashed with police firing tear gas almost daily. The clashes left two people dead.

Thursday8217;s indictment failed to address a key Opposition claim that 17 million the son kept in secret bank accounts was left over from his father8217;s campaign five years ago.

Prosecutors also indicted Kim Ki-Sop, a senior government intelligence official close to the President8217;s son, on a charge of taking 169,000 in bribes from a businessman seeking a government cable TV license.

On Monday, 11 people including the owner of the steel firm, a former cabinet minister and other associates of the President were sentenced to three to 15 years in prison for embezzling company funds or exchanging bribes for improper bank loans.