Main opposition Democratic Party of Korea Chairman Lee Jae-myung speaks to reporters as he leaves the Seoul Central District Prosecutors Office in southern Seoul, Jan. 28. Yonhap

Opposition leader Lee Jae-myung on Saturday released a statement rejecting corruption allegations over a property development project after he appeared before prosecutors for questioning.

This was the second time in less than a month that Lee, chairman of the main opposition Democratic Party of Korea (DPK), has appeared before prosecutors after undergoing 12 hours of questioning in a separate corruption probe, Jan. 10.

Lee showed up at the Seoul Central District Prosecutors Office in southern Seoul at about 10:20 a.m. to answer allegations about his involvement in a corruption-laden property development project in the city of Seongnam, south of Seoul, which was pushed for when he was mayor there.

The case centers on allegations that a private asset management company, Hwacheon Daeyu, was allowed to reap about 404 billion won ($328.7 million) in profits from the development project in Daejang-dong in Seongnam thanks to dubious arrangements allegedly approved by then Mayor Lee, who is suspected of breach of trust during the process.

Main opposition Democratic Party of Korea Chairman Lee Jae-myung speaks to reporters before entering the Seoul Central District Prosecutors Office in southern Seoul, Jan. 28, for questioning in part of a corruption investigation. Yonhap

In a statement submitted to prosecutors that was later posted on Facebook, Lee denied the allegations that he leaked inside information on the development project, or approved the project in a way that was favorable to private developers.

Lee claimed that instead, he shifted more costs to private developers and secured more profits for Seongnam City.

Before entering the prosecutors' office, Lee said his statement will show how "absurd" their allegations were and what the "objective truth" was.

"This place is where the Yoon Suk Yeol dictatorship through the prosecution destroyed the rule of law and constitutional order," Lee told reporters before entering the office. "No matter how big and strong power is, it cannot defeat the people."

During 10 hours of questioning, Lee refused to answer, referring prosecutors to the 33-page statement he had submitted, according to inside sources.

Prosecutors are known to have requested a second interrogation session, but this is unlikely to happen as Lee earlier said he would only accept the first in-person session.

"I think prosecutors under the Yoon Suk Yeol administration are not investigating but doing politics," Lee told reporters afterwards. "I have to think that (prosecutors) are fabricating the case to just indict me, not to uncover the truth."

Lee is also suspected of involvement in the alleged wrongdoing by Jeong Jin-sang, a longtime close confidant of his. Jeong was indicted for allegedly providing partners affiliated with the company with business favors in exchange for their promise to give him dozens of billions of won in kickbacks.

Jeong was also suspected of taking election funds from them.

On Jan. 10, Lee underwent 12 hours of questioning as part of a separate investigation into allegations that Seongnam City Government received 17 billion won in corporate donations for its municipal football club in return for administrative favors between 2016 and 2018 while he was the mayor.

Lee has vehemently denied all allegations, claiming his innocence and accusing the prosecution of fabricating charges against him by abusing its power for a politically motivated probe of the former presidential election rival of President Yoon.

Prosecutors were reportedly considering combining the two separate cases involving Lee to file for an arrest warrant for him following the second round of questioning.

Even if prosecutors seek a warrant for him, Lee is expected to avoid arrest because, by law, prosecutors need National Assembly approval to arrest a lawmaker while it is in session, and the Assembly, where the DPK has a majority, is expected to refuse this. (Yonhap)