Allegations of Stock Manipulation Against Doich Motors... Yoon Keeps Distance While Ruling Party Closely Pursues

Arrest Warrant Issued for Chairman Kwon Osu
Yoon: "No Change in Position"
Ruling Party: "Abuse of Power if Facts Are Concealed"

Kwon Oh-soo, chairman of Doich Motors, who is suspected of stock manipulation and breach of trust, is attending the pre-arrest detention hearing at the Seoul District Court in Seocho-gu, Seoul on the 16th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Lee Hyun-joo] Following the arrest of the chairman of Deutsche Motors, a company involved in the stock price manipulation scandal linked to Kim Gun-hee, wife of Yoon Seok-yeol, the People Power Party's presidential candidate, the ruling party has launched a concentrated attack on Yoon. However, Yoon's camp continues to maintain distance from the issue, insisting that he is "unrelated to the stock price manipulation."

On the 17th, Yoon's camp stated that there is "no particularly changed position" regarding the court's acceptance of the prosecution's arrest warrant request for Kwon Oh-soo, chairman of Deutsche Motors, submitted the previous day. During the People Power Party primary, Yoon denied allegations of involvement in stock price manipulation raised by lawmaker Hong Joon-pyo, saying, "I did invest, but after losing about 40 million won, I withdrew the account and stopped trading." At that time, Yoon also disclosed part of Kim's stock account details.

Furthermore, Yoon's camp holds the position that Kwon's detention does not constitute direct evidence proving Kim's involvement in stock price manipulation. The arrest warrant for Kwon does not specify any content related to Kim. However, since Kim has been reported to the prosecution on suspicion of providing funds used in the stock price manipulation process, it is widely expected that the prosecution's focus will soon turn to Kim. In that process, the prosecution is also expected to summon Kim directly to hear her explanation and verify the facts. Kim's side is preparing to hire legal counsel in response.

As Yoon proceeded with his scheduled activities without special response to this issue, the Democratic Party of Korea tightened its attacks, accusing him of "consistent silence." They sharpened their stance, stating that if Yoon tried to conceal his wife's involvement in stock price manipulation, it would constitute abuse of power, even mentioning the possibility of replacing the candidate. At the election committee general headquarters meeting that day, Democratic Party leader Song Young-gil pressured the prosecution to start investigating Kim, saying, "Despite substantial parts of the stock price manipulation allegations being revealed as facts, there has been no investigation into the key party involved, Kim." Song also referred to Yoon's tenure as Prosecutor General when he investigated the family of former Minister of Justice Cho Kuk, criticizing, "Even after mobilizing the prosecution to destroy one family, Yoon remains silent about the malicious corruption allegations against himself and his family." Floor leader Yoon Ho-jung also targeted Kim, saying, "She should no longer hide behind her husband and must fully disclose her role and address the public suspicions surrounding her regarding the stock price manipulation."

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