Appeals court finds South Korean First Lady Kim Keon-hee guilty of stock manipulation, bribery
Translated from Korean, summarized and contextualized by DistantNews.
TLDR
- A South Korean appeals court found first lady Kim Keon-hee guilty of actively participating in stock price manipulation, overturning a lower court's acquittal.
- The court ruled that Kim was aware of and actively involved in the scheme, not merely a passive accomplice, and sentenced her to four years in prison.
- The ruling also found her guilty of accepting a bribe from the Unification Church, reversing another acquittal from the first trial.
The Seoul High Court's decision marks a significant turning point in the long-running investigation into First Lady Kim Keon-hee's alleged involvement in stock price manipulation and bribery. This appeals court ruling directly contradicts the initial acquittal, stating that Kim was not just a passive observer but an active participant in the Deutsche Motors stock manipulation scheme.
The court found that defendant Kim actively participated in the stock price manipulation, beyond merely aiding it.
The court's reasoning highlights specific actions, such as Kim's instructions to use mobile phones for calls to avoid recording and her timing of stock sales, as evidence of her intent to profit from market manipulation. This stands in stark contrast to the first trial's assessment, which deemed her actions as independent judgments and dismissed some charges due to the statute of limitations.
Kim Keon-hee was aware that her accounts would be used for market manipulation and actively participated in the crime.
Furthermore, the appeals court reversed the acquittal on bribery charges related to a Chanel bag received from the Unification Church, ruling that Kim was aware of the church's intent to seek favors when she accepted the gift. This finding, based on recorded conversations about the church's contributions to then-candidate Yoon Suk-yeol's election and their expectations of compensation, directly challenges the first trial's dismissal of the bribery charge due to unspecified requests.
The court ruled that the Chanel bag received from the Unification Church was accepted with the awareness of the church's intent to seek favors.
The sentencing, which includes four years in prison, reflects the court's view of the severity of the offenses, particularly the breach of public trust. While Kim's legal team has announced their intention to appeal to the Supreme Court, this verdict significantly impacts the political landscape and public perception of the First Lady.
We will appeal to the Supreme Court.
DistantNews Editorial
Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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