By Nho Joon-hun
Staff Reporter

Federation of Korean Industries (FKI) chairman Kang Shin-ho and other business leaders on Wednesday visited Prosecutor General Song Kwang-soo to urge a speedy end to the ongoing investigations into alleged illegal political funding.

The visit came one day after prosecution investigators stormed the offices of LG Home Shopping to gather evidence of illegitimate campaign funding as the probe appeared to be expanding.

While Song has said in the past that the probe will be wrapped up as quickly as possible, an increasing number of business leaders, including LG chairman Koo Bon-moo and Lee Hak-soo, CEO of Samsung’s restructuring office, were banned from traveling overseas until the probe is completed.

Kang said, ``We have conveyed to Song the prevailing concern of the business community that the expansion of the political fundraising scandal will not be beneficial for the economy.’’

``I cannot give out the details of my discussions with the prosecutor general but I asked for close cooperation in speeding up the ongoing investigations,’’ Kang said.

He went on to say that while the investigations may be crucial for getting to the bottom of the allegations, the effects of a prolonged probe will not be good for the economy.

``Instead of giving hope to the public, the investigations could have an adverse effect, particularly as they being covered extensively by the media,’’ he told reporters at the Supreme Prosecutors’ Office.

He said following the meeting that he felt that Song had a clear understanding of the economic situation and that he will meet with business leaders as soon as possible to ask them to provide their fullest cooperation with the investigation.

Meanwhile, Song reportedly said, after the meeting with Kang, the prosecution recognized the harmful effects that a prolonged investigation will have on the economy, but the process has been dragging because there has not been adequate cooperation from businesses.

He was also quoted as saying that the exit bans on executives and the raiding of company offices are not meant as threats and that there is sufficient evidence which requires such legal measures.

jakenho@koreatimes.co.kr