A joint investigation by South Korean prosecutors and police has concluded its inquiry into allegations that Assembly Member Jeon Jae-soo of the Democratic Party received illicit funds from the Unification Church. The investigation team, led by Daejeon High Prosecutors’ Office Chief Kim Tae-hoon, determined it could not pursue charges related to a luxury watch due to the statute of limitations, and lacked sufficient evidence regarding cash payments beyond witness testimony.
Investigation Findings
According to reports from April 12, 2026, the investigation focused on claims that Jeon received a Cartier watch valued at 7.85 million won and an unspecified amount of cash between 2018 and 2019. Investigators identified August 21, 2018, as a potential date for the watch transfer, coinciding with a visit by Jeon and Unification Church Pastor Park to Cheonjeonggung. Yet, the seven-year statute of limitations for bribery had expired.
The investigation team stated they could not definitively confirm the transfer of funds, citing the testimony of former Unification Church official Yoon Young-ho as the sole evidence. Because the alleged amount did not exceed 30 million won, the longer ten-year statute of limitations applicable to larger sums did not apply.
Political Implications
Despite the conclusion of the financial investigation, the case is not fully closed. The investigation team acknowledged “circumstances suggesting” the watch was received, which could impact a separate police investigation into allegations that Jeon made false statements regarding the matter. In December 2025, Jeon stated that the allegations were “completely groundless” and that he had “never received illegal funds.”

Assembly Member Joo Jin-woo of the People Power Party filed a complaint in March 2026, alleging that Jeon’s statements constituted false information under election law. The Busan Police Agency is currently investigating this claim. A representative from the investigation team noted that determining who actually received illicit funds could be a key factor in the election law investigation.
Frequently Asked Questions
What was the basis for the investigation team’s decision not to pursue charges against Jeon Jae-soo?
The investigation team cited the expiration of the statute of limitations for the luxury watch and the lack of evidence beyond witness testimony regarding cash payments.
What is the status of the investigation into allegations of false statements made by Jeon Jae-soo?
The Busan Police Agency is currently investigating allegations that Jeon made false statements regarding the receipt of funds from the Unification Church.
Was a specific amount of cash determined to have been exchanged?
The investigation team was unable to determine a specific amount of cash exchanged, stating that the testimony of a former Unification Church official was the only evidence available.
As the investigation concludes, and with the statute of limitations passed on key elements of the case, what impact will this have on the upcoming Busan mayoral election and public trust in political transparency?





