Hunt for former South Korean tyrant Chun Doo-hwan's HK$1.1b cash stash

Former South Korean President Chun Doo-hwan owes the country 167.5 billion won (HK$1.1 billion) that he was found to have amassed through corruption during his 1980s rule, but he insists he's broke. Prosecutors have less than four months left to prove him wrong.

A statute of limitations will soon wipe away Chun's obligation to pay back the money, to the chagrin of South Koreans who remember the military dictator for not only his cozy relationships with businessmen but also for a deadly crackdown on pro-democracy protesters.

Lawmakers plan to meet today to debate legislation that could extend the search and hold his family accountable for the money. But even if it passes, such retroactive changes could be rejected in court.

Last month, the new chief of the state prosecution office urged an "extraordinary" push to collect from the 82-year-old, who seized power in a 1979 army coup and ruled South Korea until early 1988.

Chun's departure as president marked the end of military rule and the beginning of democracy in South Korea. In 1996, he was convicted of corruption and for his role in the 1980 crackdown, which left about 200 people dead in the southwestern city of Gwangju. He was sentenced to death, though he received a reduction in sentence and later a pardon.

He also was ordered to pay back the 220.5 billion won "slush fund" that officials said he had amassed from dozens of businessmen in return for government contracts and other favours. He has since returned 53 billion won.

Prosecutors can still recover funds because under the law, the statute of limitations is extended three years every time an asset is seized. That has happened several times: a Mercedes-Benz was seized in 2000, and in 2010 he voluntarily paid 3 million won in what was seen by many as an effort to prevent authorities from confiscating larger assets.