Kookmin University Holds Shares in 'Deutsche Motors'... "Company Linked to Kim Gun-hee Violates Private School Act"

Kookmin University Holds 240,000 Shares of 'Deutsche Motors'
Seodong Yong "Must Clarify Purchase Reason... Comprehensive Audit Inevitable"

A professor from Kookmin University is holding a one-person protest in front of the main gate of Kookmin University on the morning of the 17th, urging a reinvestigation of the doctoral dissertation of Kim Geon-hee, wife of former Prosecutor General Yoon Seok-yeol. / Photo by Yonhap News

[Asia Economy Reporter Na Ye-eun] It has been confirmed that the foundation of Kookmin University, where Kim Gun-hee, the wife of former Prosecutor General Yoon Seok-yeol, was employed, holds 240,000 shares (approximately 1.64 billion KRW) of stock in 'Deutsche Motors.' 'Deutsche Motors' is a company suspected of stock price manipulation involving Kim.

On the 21st, during the National Assembly Education Committee's comprehensive audit, Seo Dong-yong, a member of the Democratic Party of Korea, stated, "According to the securities details among the revenue-generating basic assets held by Kookmin University in 2020, they hold 240,000 shares of Deutsche Motors, worth 164.76 million KRW. Deutsche Motors is a company implicated in stock price manipulation by Kim Gun-hee."

Rep. Seo pointed out, "After requesting and receiving all minutes of Kookmin University's board meetings from January 2018 to April 2020, it was confirmed that there was no discussion regarding the purchase of Deutsche Motors shares in any of the board meeting minutes during this period."

He continued, "When purchasing or disposing of stocks as revenue-generating basic assets, the board of directors must deliberate and resolve, but this process was not conducted. This constitutes a violation of the Private School Act." According to the Private School Act and the university establishment and operation regulations, private universities must go through board resolution procedures when acquiring or disposing of revenue-generating basic assets.

He further asserted, "It is natural to clarify why Kookmin University purchased Deutsche Motors shares without board approval, but since violations of research ethics and the Private School Act have been confirmed at Kookmin University, a comprehensive audit by the Ministry of Education is inevitable."

Meanwhile, Yoo Eun-hye, Minister of Education, responded, "Regarding the acquisition of (Kookmin University's Deutsche Motors) shares, the Ministry of Education also needs to first verify the acquisition process and disposal," adding, "We will comprehensively review the matter concerning the comprehensive audit."

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