'Minerva' allegedly cost South Korea $2B

Jan. 12, 2009 at 12:49 PM
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SEOUL, Jan. 12 (UPI) -- An online blogger identified only as "Minerva" disturbed currency values in South Korea to a point that a $2 billion stimulus was needed, prosecutors allege.

Prosecutors said Monday in Seoul Central District Court that the individual operating under the Internet alias "Minerva" allegedly caused significant public concern regarding the currency exchange market through more than 100 online postings, the Yonhap news agency said.

Prosecutors alleged in response to that concern and resulting economic downturn, the government injected $2 billion in government funds into the destabilized currency market.

The online posts were all critical of the South Korean government's economic dealings, including a falsified Dec. 29 posting that accused the government of manipulating the currency market, prosecutors alleged.

Prosecutors are attempting to convict a 30-year-old unemployed man, identified only by his surname Park, who has been arrested in relation to the online postings.

Justice Minister Kim Kyung-han said during a recent National Assembly meeting that Park's alleged postings were criminal in nature as they undermined South Korea and its economy, Yonhap reported.

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