( LEAD ) Busan ' s ex - vice mayor arrested in bribery case ( ATTN : UPDATES with court ' s decision throughout , photo ) SEOUL , Nov . 27 ( Yonhap ) -- A Seoul court on Wednesday issued an arrest warrant for a former vice mayor of the southeastern port city of Busan on alleged bribery charges . The court cited the possibility of the suspect fleeing and destroying evidence as reasons for ordering the warrant . Yoo Jae - soo is alleged to have taken kickbacks worth a combined 50 million won ( US $ 42 , 473 ) from financial firms when he worked at the state financial regulator Financial Services Commission ( FSC ) . State prosecutors have been probing allegations surrounding Yoo since October , raiding the FSC , as well as financial companies . They requested an arrest warrant following a 17 - hour questioning earlier this month . The 55 - year - old , who recently resigned from the vice - mayoral post , showed up for the hearing at the Seoul Eastern District Court in eastern Seoul this morning . Yoo Jae - soo , former vice mayor of Busan , is seen on his way to attend a court hearing on the prosecution ' s arrest warrant request at the Seoul Eastern District Court in eastern Seoul on Nov . 27 , 2019 . ( Yonhap ) Yoo was under surveillance of a special inspection team of the presidential office Cheong Wa Dae over allegations that he took bribes from businesses , including overseas study expenses and a flight ticket for his child . But he avoided punishment for an unknown reason and became Busan ' s vice mayor in charge of economic affairs in 2018 . The prosecution is looking into allegations that Cho Kuk , former top presidential secretary for civil affairs , and other former Cheong Wa Dae officials may be behind the sudden end of the inspection into Yoo . In February , a former special inspector filed a petition with the prosecution against Cho , claiming the surveillance was abruptly suspended despite alleged wrongdoing by Yoo . If Yoo is arrested , the case may affect the prosecution ' s separate probe into Cho , the former justice minister whose wife is under investigation over a dubious financial investment and her daughter ' s college admission . mlee @ yna . co . kr ( END )