Police Decide Not to Prosecute Former Anti-Corruption Secretary Kim Gi-pyo Over 'Speculation Controversy'

Former Secretary Kim Accused by Sajunmo Files Objection... Likely to Proceed to Prosecution

Kim Ki-pyo, former Blue House Anti-Corruption Secretary.
Photo by Yonhap News

[Asia Economy Reporter Lee Gwan-ju] It has been confirmed that the police decided not to prosecute former Blue House Anti-Corruption Secretary Kim Ki-pyo, who stepped down amid allegations of real estate speculation, citing insufficient evidence.

According to the police on the 27th, the Special Investigation Unit for Real Estate Speculation Crimes of the Southern Gyeonggi Provincial Police Agency decided not to prosecute former Secretary Kim on the 14th regarding charges including violation of the Anti-Corruption and Civil Rights Commission Act.

The speculation allegations against former Secretary Kim surfaced earlier in June when the periodic asset registration details of high-ranking public officials were disclosed. He reported real estate assets worth 9.12 billion KRW and financial debts of 5.62 billion KRW, but it was suspected that a significant portion of the real estate was purchased through bank loans, raising suspicions of "all-in speculation."

The police, who launched an investigation following a complaint from the Civic Group for Judicial Exam Preparation Students (Sajunmo), found no evidence that former Secretary Kim used insider information, and also judged that there was insufficient evidence for charges of violating the Real Name Real Estate Act. As Sajunmo filed an objection to the police's decision not to prosecute, the case is expected to be transferred to the prosecution.

Former Secretary Kim expressed his intention to resign on June 27 after the speculation controversy arose, and President Moon Jae-in accepted it.

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