Kim Gun-hee's "Deutsche Motors Stock Price Manipulation" Case, Prosecutors Begin Reinvestigation

Prosecutors have begun a reinvestigation into the stock price manipulation allegations involving Kim Gun-hee, the wife of former President Yoon Suk-yeol, which had previously been dismissed on grounds of no charges.

This decision comes after the Supreme Court's conviction, signaling that additional investigations into the individuals involved in the case are inevitable.

On the 25th, the Seoul High Prosecutors' Office stated, "We have decided to initiate a reinvestigation into the appeal case regarding Kim Gun-hee's violation of the Capital Markets Act." As a result, the allegations regarding her involvement in stock market manipulation have come back into the investigative spotlight.

Reinvestigation refers to the act of reopening an already concluded investigation. More specifically, it is a procedure where investigative agencies (such as the prosecution or police) look into a previously concluded case due to the emergence of new evidence or problems with the existing investigation.

This reinvestigation will be directly managed by the Criminal Division of the Seoul High Prosecutors' Office.

Change in Trends Post-Supreme Court Ruling… "Additional Investigation Necessary"

The change in the prosecutors' stance has been decisively influenced by the Supreme Court's guilty verdict against former Deutsche Motors Chairman Kwon Oh-soo and his accomplices. A Seoul High Prosecutors’ Office official stated, "With the legal judgment on the related case confirmed, we judged that further investigation into the circumstances involving accomplices is necessary."

Kim has faced allegations related to past market manipulation activities where she allegedly financed "jeonju" (stock speculator) actions. However, the prosecution concluded at the end of 2022 that, while there were indications of transactions occurring in Kim's accounts, it was difficult to prove her active involvement, leading to a dismissal of charges.

Nevertheless, with the Supreme Court's confirmation of guilt for the main defendants in this case, it has become unavoidable to re-examine the extent of Kim's involvement.

Luxury Bag Receipt Case Appeal Dismissed… Will This Be a Turning Point for Kim's Investigation?

Meanwhile, the Seoul High Prosecutors' Office dismissed the appeal concerning Kim's "receipt of luxury bags." This case involves allegations that she received luxury bags from Korean-American pastor Choi Jae-young, with potential implications for violations of public official ethics and bribery, but the prosecution had previously dismissed the case in January.

The decision to reinvestigate the Deutsche Motors case signifies that the various judicial risks surrounding Kim are once again becoming central issues. Attention is focused on whether the same principles of investigation that apply to "former presidential spouses without legal privileges" will actually be adhered to, following the impeachment of former President Yoon.

While the Seoul High Prosecutors' Office has not made specific comments regarding the possibility of directly summoning Kim, it is expected that they will comprehensively review the circumstantial evidence and account usage details cited in the Supreme Court ruling, alongside the market trends at that time.

Image source: Kim Gun-hee / News1, News1, Kim Gun-hee / Photo = Provided by the Presidential Office