A Measure to Gauge the Expertise and Investigative Will of Prosecutors in the 'Optimus' Investigation

Expansion Expected from Current 10 Members to 15-20
Financial Crime Investigation Experience More Important Than Number of Inspectors
Prosecutor General Yoon Seok-yeol and District Chief Lee Seong-yoon's Intentions Behind 'Investigation Team Expansion' Also Draw Attention

The Supreme Prosecutors' Office in Seocho-gu, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporters Seokjin Choi and Kyunghwan Bae] As the investigation team for the Optimus Asset Management fund fraud case is set to be significantly expanded, the number and profiles of prosecutors dispatched to the team are expected to serve as indicators of the Ministry of Justice's and Seoul Central District Prosecutors' Office's determination to pursue the investigation.

Many point out that, to properly investigate this case?which could deal a fatal blow to the current administration's morality?dispatching prosecutors with extensive experience in financial crimes is more crucial than simply increasing the number of prosecutors.

Attention is also focused on the intention behind Seoul Central District Prosecutor Lee Seong-yoon, who is regarded as aligned with the current administration, personally requesting an "increase in the investigation team," and Prosecutor General Yoon Seok-yeol's directive to "reinforce personnel" after receiving this report.

On the 13th, the Ministry of Justice is reviewing whether to approve the acting appointments of four prosecutors requested by the Central District Prosecutors' Office for additional dispatch.

Previously, the Central District Prosecutors' Office, after approval from the Supreme Prosecutors' Office, reportedly requested the Ministry of Justice to dispatch a total of four prosecutors: two from the Gwangju District Prosecutors' Office and two from other prosecution offices.

A Ministry of Justice official stated, "The final decision will be made considering various circumstances, including the situation of the prosecutors' offices to which the prosecutors belong. Depending on the case, dispatching some prosecutors may be difficult, and they may be replaced by other more suitable prosecutors."

Which prosecutors with what kind of experience are dispatched to the investigation team is a very important factor reflecting the Ministry of Justice's and prosecution's determination and direction regarding the investigation.

Previously, Prosecutor Lee was suspected of lacking investigative will as he assigned the Optimus case to the Investigation Division 1, which mainly handles somewhat complex complaint and accusation cases. It is argued that this case should be assigned to investigative departments such as the Anti-Corruption Investigation Division.

However, shortly after the prosecution personnel reshuffle, last month, Prosecutor Lee reassigned the case to the Economic Crime Criminal Division (headed by Chief Prosecutor Joo Min-cheol) and added three prosecutors from the Anti-Corruption Investigation Division 2, thus appearing to take shape, but criticism regarding the investigative will both inside and outside the prosecution persisted.

Prosecutor General Yoon instructed Prosecutor Lee the day before, saying, "Thoroughly investigate by significantly increasing the investigation team personnel beyond the four prosecutors." This directive, reportedly given after a delayed briefing on the investigation status, is interpreted as a clear intention not to tolerate any attempts to lightly sweep the case under the rug.

Furthermore, there is room to interpret that Prosecutor Lee's investigative will was not fully recognized based on the profiles of the four prosecutors requested by the Central District Prosecutors' Office. No response has yet been made by Prosecutor Lee regarding the Prosecutor General's "additional reinforcement" directive.

A current senior prosecutor, Mr. A, said, "Financial crime investigations can be seen as a comprehensive form of special investigations. In general special investigations such as corporate crime investigations, the focus is mainly on the use of funds like embezzlement, whereas in financial crime investigations involving lobbying suspicions, it is important to investigate the unique fund-raising processes of financial crimes, such as the issuance of convertible bonds (CBs)."

He added, "I understand that Chief Prosecutor Joo, who is currently leading the case, has more experience in advanced crime investigations than in financial crimes. A prosecutor with expertise in financial crime investigations is absolutely necessary."

Chief Prosecutor Joo served as Deputy Chief Prosecutor of the Advanced Crime Investigation Division 1 at Seoul Central District Prosecutors' Office in 2017, was head of the Forensic Science Analysis Division at the Supreme Prosecutors' Office in 2019, and was appointed head of the Economic Crime Criminal Division at the Central District Prosecutors' Office in the personnel reshuffle last August.

The approval of prosecutor dispatches is handled by the Ministry of Justice's Prosecution Bureau. How the Ministry of Justice processes Prosecutor Lee's proposal for four dispatches and the Prosecutor General's directive for additional dispatches is directly linked to the government's determination to uncover the substantive truth.

Regarding this, Minister of Justice Choo Mi-ae avoided a direct answer during the National Assembly audit held the day before when asked by a ruling party lawmaker, "Will you approve the request to reinforce the Optimus investigation team?" She replied, "I will review various factors and make a judgment. It is difficult to answer immediately here."

Regarding the "fund defect remedy" document cited as evidence of lobbying by Optimus, she stated, "It is not true that the real names of Blue House or ruling party politicians are recorded, and I have received reports that there are statements claiming it is a 'false document created to show the Financial Supervisory Service,'" which drew criticism from opposition lawmakers suggesting she was providing a guideline for the investigation.

This content was produced with the assistance of AI translation services.