A prosecutorial investigation into fallen savings banks points to the possibility that substantial amounts of money from them found their way into President Lee Myung-bak’s 2007 election fund. But the prosecutors’ office is reluctant to start a new investigation to this, though it promises to look into the alleged secret contributions.

A recent news report quoted an unidentified executive of Mirae Savings Bank as saying that its chairman gave 3 billion won, not 300 million won as is believed by the prosecutors’ office, to President Lee’s older brother, Lee Sang-deuk, ahead of the presidential election in December 2007. Lee Sang-deuk, a former lawmaker, was a key member of the presidential campaign team, along with Rep. Chung Doo-un of the ruling Saenuri Party, who is also involved in the savings banks’ bribery scandal.

Also suspected of making an illegal contribution is Solomon Savings Bank. Solomon is accused of bribing Rep. Chung, but the lawmaker hinted that he took money from the bank for Lee’s campaign. He nodded in affirmation when asked by reporters if he took any money from Solomon as a contribution to Lee’s election fund.

Suspicions are not limited to alleged illegal contributions from the savings banks. Another case involved Choi See-joong, a former chairman of the Korea Communications Commission, who is now being tried on charges of taking 800 million in bribes from a land developer. He said he took the money as a contribution to Lee’s campaign fund, though he later withdrew the remarks. Choi, often dubbed as Lee’s “political mentor,” was a member of Lee’s six-man inner circle during the campaign.

Though one disturbingly plausible allegation about illegal contributions is coming after another, the prosecutors’ office appears to be focusing on individual corruption scandals involving those close to the president.

It says it will expand the ongoing investigation if it obtains any new evidence. Still, it gives the impression that, despite the allegations, it is unwilling to launch a full-fledged investigation into illegal contributions to Lee’s campaign.

This half-heartedness is in sharp contrast with the enthusiasm with which the prosecutors’ office launched an extensive investigation into illegal election contributions made to Lee’s immediate predecessor, Roh Moo-hyun, in 2003-04. Should it drag its feet, as it does now, the prosecutor’s office will be accused of applying double standards. It is its responsibility to start a new investigation into the allegations as soon as possible.