South Korean prosecutors seek to arrest opposition leader in graft probe

FILE PHOTO: South Korean presidential candidate Lee Jae-myung of the Democratic Party admits defeat in the election at the party's headquarters, in Seoul, South Korea, March 10, 2022. Chung Sung-Jun/Pool via REUTERS

SEOUL (Reuters) -South Korean prosecutors on Thursday requested an arrest warrant for the head of the main opposition Democratic Party, Lee Jae-myung, in an investigation into development projects and bribery allegations.

Lee, a former Democratic presidential candidate, is accused of being in breach of his duty over losses of 489.5 billion won ($382 million) run up by Seongnam Development Corporation during his time as mayor of Seongnam city, prosecutors said.