Prosecutors Dismiss Charges Against Kim Euigyeom in 'Heukseok-dong Real Estate Speculation' Case

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] The prosecution has concluded no charges against Kim Eui-gyeom, a member of the Open Democratic Party, who was accused of speculation on a commercial building in Heukseok-dong, Seoul, during his time as the Blue House spokesperson.

On the 24th, the Criminal Division 1 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Seon-hyeok) announced that it decided not to prosecute Kim, who was accused of violating the Anti-Corruption Act, the Improper Solicitation and Graft Act, and abuse of authority.

Kim purchased a commercial building in Dongjak-gu, Seoul, for 2.57 billion won in July 2018 while serving as the Blue House spokesperson, which was revealed in 2019. He stepped down from his spokesperson position in March 2019. At that time, civic groups accused Kim of using insider information for real estate speculation and manipulating loan documents, and reported him to the prosecution.

However, after reviewing the evidence and statements from the suspect and witnesses, the prosecution judged that it was difficult to see that Kim had prior knowledge of undisclosed information and used it to purchase the Heukseok-dong commercial building or violated loan-related procedures such as regulations on interest repayment ratios for rental businesses. Regarding the accuser's claim that Kim's past residence in the Blue House official residence was a special favor and abuse of authority, the prosecution also decided not to prosecute, citing that the Blue House spokesperson met the requirements for residence in the official residence.

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