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Cash-for-summit is the name of a political scandal that broke in South Korea in February 2003 and revolved around the secret payment by the Kim Dae-jung administration to North Korea of 500,000,000 dollars to secure the landmark June 2000 North–South summit between the two Koreas.
The payment, worth 500,000,000 dollars, was criticized by right wing groups of South Korea in particular. Some of them claimed that Kim Dae-jung had "bought" his 2000 Nobel Peace Prize that he received following the diplomatically successful summit. According to Andrei Lankov, these accusations have a "kernel of truth", since Kim was known for never missing an opportunity to promote his lifelong political career.
But, Hyundai claimed the money was a payment for exclusive business rights in electric power facilities, communication lines, an industrial park, cross-border roads and railway lines in North Korea. Hyundai transferred $500 million to the North just months before the summit, triggering criticism that S.Korean Government paid for the summit. And in this regard, Park Jie-won was charged with violating domestic laws on foreign exchange trade and inter-Korean cooperation affairs while orchestrating covert money transfers by Hyundai to North Korea. Mr. Park played a pivotal role in arranging the first Inter-Korean summit between South and North Korean leader in June 2000. In May 2006, he was sentenced for three years in prison. Park was released in February 2007, and pardoned in December 2007.
And Kim Dae-jung had been nominated in Nobel Peace Prize every year from 1987 to 2000. It is because not only the Inter-Korean summit but also his lifelong commitment to democracy. The Nobel Committee decided to award the Nobel Peace Prize for 2000 to Mr.Kim for his work for democracy and human rights in South Korea and in East Asia in general, and for peace and reconciliation with North Korea and Japan. And also his diplomatic activities against repression in East Timor(1999) was considered.
- Lankov, Andrei (2015). The Real North Korea: Life and Politics in the Failed Stalinist Utopia. Oxford: Oxford University Press. p. 198. ISBN 978-0-19-939003-8.
- "Park Jie-won gets leave from jail for treatment". Korea JoongAng Daily. 6 November 2006. Retrieved 5 July 2020.
- "The Nobel Peace Prize for 2000".
- "South Korean leader says move was meant to aid 'sunshine' policy", The International Herald Tribune, January 31, 2003.
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