Yonhap News TV capture.Allegations have been raised that Lee Jae-myung has hidden a slush fund worth trillions of won in Singapore.

Eugene Yu, a Republican candidate for the U.S. House of Representatives in Georgia's 1st Congressional District, claimed on the 14th (U.S. time) during the 'NNP Special Guest' segment on News & Post that the "trillions of won" illegally amassed by Lee Jae-myung from the "Daejang-dong and Baekhyeon-dong" projects "have gone to Singapore."

Singapore is also known as the place where the son of Kim Hyun-ji, Secretary to the First Office of the President, recently studied abroad, which has been a subject of controversy. Some have raised suspicions that large sums of money were remitted to Singapore through Kim Hyun-ji and a third party.

Candidate Yu stated, "Singapore is where new illicit funds are gathering these days," noting that international hedge funds congregate there and that firms managing slush funds can be found throughout the city-state.

Candidate Yu argued that the reason the massive slush fund, known as a "reservoir," had "not been uncovered domestically until now" is that it was kept overseas.

Furthermore, Candidate Yu claimed, "The U.S. government knows all about (the Singapore reservoir)." He added that if word has reached the U.S. financial sector, intelligence agencies are likely already aware of it.

In a follow-up conversation with News & Post after the live broadcast, Candidate Yu revealed that he had heard this information from a senior executive at a leading global financial firm in the United States.

Candidate Yu asserted that the executive told him, "Lee Jae-myung's funds are piling up in Singapore," and that he was looking for ways to manage those slush funds. 

Candidate Yu added that the executive is believed to be approximately the third-highest-ranking official within that firm.

U.S. NNP = Reporter Sung Ku Hong / Special NNP Agreement info@newsandpost.com