Yoo Byung-Eun had been the target of an unprecedented, months-long manhunt involving tens of thousands of police officers and army troops who set up checkpoints on roads and at ports, and raided a number of properties linked to the reclusive billionaire.
The body later identified as Yoo's was actually found nearly six weeks ago on June 12, lying in a field just outside the city of in Suncheon, 300 kilometres (186 miles) south of Seoul.
Discovered by a local resident, the body was so badly decomposed as to be unrecognisable, and it was only after a DNA test that the match with Yoo was made.
After weeks of technical treatment on the body, forensic experts eventually managed to lift a print from one of the index fingers which confirmed Yoo's identity.
Suncheon police chief Woo Hyung-Ho told reporters that the body was too decomposed to ascertain the cause of death, although several empty bottles of alcohol were found at the scene.