Kim Jin-wook, Head of the Corruption Investigation Office for High-ranking Officials, 'Stock Trading Allegation' Investigation to be Handled by Seoul Metropolitan Police Agency

On the afternoon of the 21st, Kim Jin-wook, the head of the Corruption Investigation Office for High-ranking Officials, is speaking at the plaque unveiling ceremony held at the Government Complex Gwacheon. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Yoo Byung-don] The Seoul Metropolitan Police Agency's Anti-Corruption and Public Crime Investigation Unit has taken charge of the 'stock trading suspicion' accusation case against Kim Jin-wook, head of the High-ranking Officials' Crime Investigation Unit (Gong-su-cheo).

The Jongno Police Station in Seoul, which had been investigating the accusation case against Director Kim, announced on the 21st that it had transferred the case to the Seoul Metropolitan Police Agency's Anti-Corruption and Public Crime Investigation Unit.

This is analyzed to be in accordance with the guidelines that, following the adjustment of investigative authority between the prosecution and police, cases attracting social attention should be reported to the provincial police agency and can also be investigated by them.

Initially, the Center for Monitoring Speculative Capital had filed a complaint with the Supreme Prosecutors' Office on the 18th of last month against Director Kim for violating the Act on the Prohibition of Improper Solicitation and Graft, but since it did not fall under crimes for which prosecutors can initiate investigations under the new Prosecutors' Office Act, it was transferred to the Jongno Police Station.

At the time of filing the complaint, the organization claimed, "The Mico Biomed stocks (valued at about 93 million KRW) held by Director Kim were acquired at a price lower than the market price by participating in a third-party allotment capital increase of Nanobiosis while serving at the Constitutional Court in 2017, earning approximately 4.76 million KRW in capital gains."

They also stated, "Such actions violate Article 8 of the Improper Solicitation and Graft Act, which prohibits receiving money or valuables exceeding 3 million KRW annually from the same person," clarifying the purpose of the accusation.

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