Cho Kuk: "Prosecutors' Moral Stigmatization of Jeong Kyung-shim Is Sly"... Also Explains Purchase of Anti-Japan Theme Stocks

Former Minister of Justice Cho Kuk, who was indicted on charges of halting the inspection of Yoo Jae-soo, former Deputy Mayor for Economic Affairs of Busan, while serving as Senior Secretary to the President for Civil Affairs at the Blue House, is heading to the courtroom to attend a continuation hearing held on the morning of the 3rd at the Seoul Central District Court in Seocho-gu. Photo by Yonhap News

[Asia Economy Reporter Nahana] Former Minister of Justice Cho Kuk criticized the prosecution for hastily resorting to moral stigmatization until the last day of the trial after learning that they accused Professor Jeong Gyeong-su of purchasing anti-Japan theme stocks during the first trial’s closing arguments.

On the 8th, former Minister Cho stated on Facebook, "On the 5th, when the prosecution made their sentencing recommendation for Professor Jeong Gyeong-sim, I learned that they accused Professor Jeong of purchasing 'anti-Japan theme stocks' while I, Cho Kuk, was criticizing the Japanese government by posting the 'Jukchangga' song in mid-July," expressing his criticism.

He said, "Some media outlets picked this as a headline. Buying anti-Japan theme stocks itself is not legally problematic, but I want to clarify. Initially, I was unaware of Professor Jeong’s stock transactions, so I checked what this was about. At that time, Professor Jeong was trading stocks recommended by an acquaintance who is a securities expert and was receiving stock trading lessons," he explained.

Former Minister Cho then listed the stock transaction details mentioned by the prosecution in their final argument. He said, "△ 'Y Chemical' purchased a total of 100 shares (about 1.5 million KRW) on August 16 and sold all by August 29, earning 22,500 KRW profit △ 'A Industry' purchased a total of 2,000 shares (about 6 million KRW) on August 19 and 21 and sold all by August 27, earning 352,500 KRW profit," adding, "Whether this matter violates the Real Name Financial Transaction Act will be judged by the court. However, I want to clarify issues beyond the legal violation."

He clarified, "(First) Professor Jeong’s stock purchases were made after I resigned as Senior Secretary for Civil Affairs on July 26 last year. (Second) At that time, Professor Jeong was completely unaware whether these stocks were 'anti-Japan theme stocks,' and the recommender also did not recommend them as such. (Third) The total profit from these stock trades was 375,000 KRW (profit before securities company fees and transaction taxes)," he explained.

He further pointed out, "During the trial, the prosecution publicly revealed a text message sent by Professor Jeong, who inherited a two-story building with a basement in Gangbuk owned by her parents jointly with her siblings, to her younger brother titled 'Dream of a Gangnam Building Owner,' imposing moral criticism, and in their final argument, they again tried to impose a moral stigma."

Former Minister Cho criticized the prosecution and some media, saying, "They are sly. And the media’s blind acceptance of the prosecution’s claims until the last moment of the trial is deplorable," adding, "The prosecution and media continuously operate a moral frame to shame us."

Meanwhile, he stated, "In the prosecution’s final argument in Professor Jeong Gyeong-sim’s trial, they suddenly mentioned 'Minister Cho Kuk theme stocks' such as 'H Machinery' and 'H Engineering.' However, as was revealed when I was nominated as minister, I have no relationship with these companies," and added, "I confirmed that H Machinery is located in Bangbae-dong, Seoul, where I live."

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