ⓒYONHAP News

A close confidant of main opposition Democratic Party leader Lee Jae-myung has been arrested on charges of receiving illegal political funds for Lee's presidential campaign.

The Seoul Central District Court on Saturday issued an arrest warrant for Kim Yong, deputy head of the DP-affiliated think tank Institute for Democracy, citing the risk that he may destroy evidence.

Kim is accused of colluding with former acting president of Seongnam Development Corporation Yoo Dong-gyu and others to receive a combined 847 million won in illicit political funds on four occasions between April and August last year from those who benefited from the Daejang-dong land development scandal.

A warrant issued for Kim is widely seen as a sign the probe is closing in on Lee himself.

When Kim was detained earlier Thursday, Lee strongly denied the allegation, saying he didn't use a single penny of illegal funds.

Prosecutors, who have secured testimony from Yoo and other parties, believe Kim requested some two billion won from Yoo in February last year to be used for Lee's campaign.

With Kim's arrest, the probe is expected to focus on where and how the money he received was used, which may shed light on the involvement of other figures who served in Lee's presidential campaign.

The ruling People Power Party has urged Lee to humbly face the truth following the arrest of Kim.

PPP floor spokesperson Jang Dong-hyeok said Saturday that the court has acknowledged the charge that Kim received over 800 million won in illegal political funds.

Citing Lee's past remark about his faith in Kim, Jang said the Korean people know all too well where that money must have ended up. He said the lies are crumbling down and the best way now is for Lee to humbly face the truth.

Another PPP spokesperson said the truth about Lee's illegal campaign funds is being revealed and asked the opposition leader to cooperate with the investigation.

Meanwhile the Democratic Party expressed regret over the arrest warrant and vowed to fight against the current administration's manipulation and fabrications. Spokesman Kim Eui-kyeom said the real truth will emerge in the court trial and accused the prosecution of distorting facts to help defend the administration mired in a crisis.

Kim said the truth ultimately wins and that the DP will safeguard democracy against political oppression by the Yoon administration.