Mystery still surrounds the unsuccessful attempt to buy the 10-story headquarters of the pro-Pyongyang General Association of Korean Residents of Japan (Chongryun) and its land. Mr. Shigetake Ogata, former head of the Public Security Intelligence Agency, which monitors Chongryun, headed an investment advisory firm that tried to buy the properties for 3.5 billion yen.
It is hoped that prosecutors will carry out a fair investigation and clarify the total picture. Mr. Koken Tsuchiya, former president of the Japan Federation of Bar Associations, represented Chongryun in the deal and asked Mr. Ogata for his cooperation.
On Monday, the Tokyo District Court ordered Chongryun to repay 62.7 billion yen to the Resolution and Collection Corp., a governmental debt-collection body. RCC had bought nonperforming loans worth that amount from 16 defunct pro-Pyongyang credit associations. The court decided the loans made to various parties were loans to Chongryun, and that RCC could seize the Chongryun properties before the ruling was finalized following appeal.