A Seoul court began a review of a warrant to arrest a former special prosecutor who led the investigation into influence-peddling within the Park Geun-hye administration over alleged bribery in the Daejang-dong land development scandal.

Appearing at the Seoul Central District Court for the hearing on Thursday, Park Young-soo apologized to the public for causing concern, before pledging to sincerely and faithfully testify in court. He said he is certain that the truth will prevail.

Asked whether he had abused his authority regarding the development project while serving as the chair of Woori Bank's board of directors, Park denied the allegation.

Park allegedly received promises of land and buildings worth 20 billion won, or over 15 million U.S. dollars, from key figures in the scandal after helping them win the development project as the board chair in 2014.

Prosecutors suspect that the former special counsel received a total of 800 million won, with 300 million won supposedly coming in the form of funding for his campaign for president of the Korean Bar Association in 2015, and an additional 500 million won in the form of shares in the project.

The so-called "Five Billion Won Club '' involves seven individuals, including Park and former Supreme Court justice Kwon Soon-il, who allegedly received bribes through a share of the profits from the Daejang-dong project in exchange for various favors.

The court is expected to decide on Park's arrest as early as late Thursday.