'Rhyme Scandal Mastermind' Kim Bong-hyun Released on Bail... "To Guarantee Defendant's Right to Defense"

Deposit of 300 Million Won, Residence Restrictions, and Travel Ban Conditions

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] Kim Bong-hyun, former chairman of Star Mobility, who was identified as the main figure in the Lime Asset Management scandal, has been released on bail.

The Criminal Division 13 of the Seoul Southern District Court (Presiding Judge Lee Sang-joo) approved Kim's bail request on the 20th.

The court stated the reason for approval, saying, "Since the number of witnesses requested reaches several dozen, requiring a considerable period for the trial, and to guarantee the defendant's right to defense, bail is permitted."

However, the court imposed restrictions as conditions for bail release, including a deposit of 300 million KRW (which can be replaced by bail bond insurance), and stated that if bail conditions are violated, the bail will be revoked and the deposit forfeited.

Additionally, the conditions include △residence restrictions △attendance at designated times and places upon summons △no contact with witnesses or any acts influencing court testimony △obtaining prior court approval before leaving the country △refraining from behavior that could affect the trial △reporting to the head of the probation office and complying with instructions including electronic monitoring △real-time location tracking, among others.

Previously, Kim was arrested and indicted on charges of embezzling hundreds of millions of KRW from Suwon Passenger Transport and Star Mobility funds, and providing money and entertainment to political circles and prosecutors. After an arrest warrant was issued in December 2019, he evaded arrest for five months before being apprehended in April last year.

Kim Mo, former director of Star Mobility, who is on trial alongside Kim Bong-hyun, was released on bail last April under conditions including electronic monitoring and a deposit of 100 million KRW.

Meanwhile, Kim Bong-hyun's legal representative has been unreachable.

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