The Seoul Central District Prosecutor's Office has launched an investigation into allegations of slush funds revealed by former President Chun Doo Hwan's grandson, Chun Woo Won (age 27).

The investigation was assigned to the Criminal Proceeds Recovery Department following accusations by a civic group, the People's Livelihood Countermeasures Committee, that the former president's family violated the Criminal Proceeds Concealment Control Act. The group claimed that the Chun family lived luxuriously with hidden slush funds and called for a reinvestigation.

On March 14, Chun Woo Won posted on his Instagram account alleging that his family continued to live well with black money from somewhere. He also revealed related information about slush funds stored in a safe at their home in Yeonhui-dong and several businesses run under borrowed names.

In 1997, former President Chun was sentenced to life imprisonment for bribery and other charges under the Act on the Aggravated Punishment of Specific Crimes and was ordered to collect 220.5 billion KRW (170.2 million USD). About 128.3 billion KRW (99 million USD) has been collected so far, but the remaining 92.2 billion KRW (71.2 million USD) has yet to be recovered.

While the former president's death in November 2021 means that his bribe collection cannot be inherited, experts suggest that punishment and redemption are still possible if the concealment of criminal proceeds by family members is revealed. 

Senior researcher at the Korea Criminal Justice Policy Institute, Seung Jae Hyeon, noted that "if the concealment of criminal proceeds by family members is revealed, the amount can be confiscated." Therefore, the prosecution plans to investigate whether the former president's family concealed criminal proceeds.