Court Rules Kim Keon-hee a Co-conspirator in Deutsch Motors Stock Manipulation

In a significant legal development, the Seoul High Court has ruled that First Lady Kim Keon-hee is a co-conspirator in the Deutsch Motors stock manipulation case. This appellate decision directly challenges the initial ruling that acquitted her, signaling a potential shift in the legal understanding of her involvement. The court stated that Kim's actions went beyond passive knowledge, finding that she actively participated in the stock manipulation scheme.

The court's reasoning points to Kim's awareness and tacit approval of her assets being used for the manipulation. Specifically, it was found that she knew her Deutsch Motors stocks, managed through Black Pearl Investment, were being employed in the price manipulation activities. This suggests a level of direct involvement and shared responsibility, classifying her as a joint offender rather than merely an accessory.

This finding is crucial because the first trial had cleared Kim of the charges, which alleged she gained 810 million won through illicit stock trading between 2010 and 2012. The appellate court's reversal underscores the gravity of the accusations and the potential legal ramifications for the First Lady. The case continues to be a focal point of public attention and political debate in South Korea.

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It is recognized that she participated in Black Pearl Investment's stock price manipulation activities beyond knowing and tolerating that her Deutsch Motors stocks could be mobilized for stock price manipulation, thus recognizing her responsibility as a joint offender.