Former head of Star Mobility Kim Bong-hyun, a key figure in a massive financial fraud scandal involving Lime Asset Management, was released on bail Tuesday.

The Seoul Southern District Court accepted Kim's bail request, saying the defendant's right to defense should be guaranteed while acknowledging that deliberations will take considerable time given the number of witnesses. 

However, the court set conditions including a 300 million won deposit, residence restrictions, an electronic tracking device and prohibiting contact with witnesses and related figures in the case.

Kim also reportedly submitted a written oath to the court promising not to destroy evidence and that he would faithfully attend his remaining court sessions.

Kim is accused of diverting tens of billions of won from Star Mobility and a bus operating firm and bribing politicians and prosecutors. He was on the lam for five months after an arrest warrant was requested in December 2019 but was apprehended in April last year.