'Self-Sponsorship' Kim Ki-sik... Prison Sentence to Fine, What is the Supreme Court's Judgment?

During National Assembly Tenure, Donated 50 Million KRW Political Contributions to Affiliated Organization... Key Issue: 'Expenditure for Improper Purposes'

[Image source=Yonhap News]

[Asia Economy Reporter Bae Kyunghwan] The Supreme Court is set to deliver its verdict on former Financial Supervisory Service Governor Kim Ki-sik, who was prosecuted for donating political funds to an organization he belonged to during his time as a member of the National Assembly.

On the 10th, the Supreme Court's 2nd Division (Presiding Justice Lee Dong-won) will hold the final hearing for Kim's appeal in the morning, who was indicted for violating the Political Funds Act.

In May 2016, Kim, who was a proportional representative of the Democratic Party of Korea, was prosecuted for donating 50 million won of his remaining political funds to the Democratic Party's parliamentary group 'The Better Future' shortly before the expiration of the 20th National Assembly's term. Subsequently, as this money was funneled into 'The Future Research Institute,' a think tank of The Better Future where Kim served as director, a controversy over 'self-donation' arose.

In the first trial, Kim was sentenced to six months in prison with a one-year probation. He was also ordered to perform 120 hours of community service. The court stated, "A significant portion of the defendant's wages and severance pay originated from the 50 million won he donated," and pointed out, "The act of the defendant receiving back a substantial part of the funds he donated can be regarded as an 'improper expenditure' as defined by law."

The second trial also found Kim guilty. However, considering "the possibility that the political funds were donated negligently and it is difficult to conclude it was for private gain," the court deemed the first trial's sentence excessive and imposed a fine of 2 million won.

Meanwhile, after the second trial's verdict, Kim stated, "I am relieved that the unfair parts of the sentencing were corrected," but also expressed regret, saying, "It is unfortunate that guilt was acknowledged even with a fine. I will immediately appeal to the Supreme Court."

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