GOYANG -- The head of a regional city development company allegedly connected to a massive development corruption scandal was found dead Friday in an apparent suicide, police said.

Police said they discovered the body of Yoo Han-gi, head of the Pocheon Urban Corp., who was reported missing by his family early Friday, at around 7:40 a.m. near his home in Goyang, north of Seoul. Yoo reportedly left home after leaving behind a will.

Yoo was a suspect in the investigation surrounding a massive development scandal connected to the lucrative apartment development project in the Daejang-dong district in the city of Seongnam, south of Seoul.

Earlier this week, prosecutors requested an arrest warrant for Yoo, who worked as a senior manager at Seongnam Development Corp. in the past. He was believed to have received 200 million won ($167,000) in bribes from key partners connected to asset management firm Hwacheon Daeyu, which handled the 2015 project.

The scandal has received intense media coverage amid questions about its potential impact on next year's presidential election.

The main opposition party has claimed Lee Jae-myung, the ruling party's presidential candidate who served as Seongnam mayor when the development project was launched in 2015, was behind the whole scheme. (Yonhap)