"Kim Geon-hee, 900 Million Won Profit During Operation Suspicion Period" Report... People Power Party Announces Legal Action Citing "Unclear Source"

"Prosecutors Investigated for 2 Years but Unable to Indict Due to Lack of Evidence"

Yoon Seok-yeol, the spouse of the People Power Party's presidential candidate, Kim Geon-hee, CEO of Kobana Contents, is issuing a statement regarding allegations of false credentials on the afternoon of December 26 last year at the party headquarters in Yeouido, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Yoon Seul-gi] The People Power Party announced that it will take legal action regarding reports on Kim Gun-hee, spouse of People Power Party presidential candidate Yoon Seok-yeol, concerning the 'Deutsche Motors stock price manipulation allegations,' stating that "the sources and materials of the reports are illegal."

Lee Yang-su, chief spokesperson for the People Power Party's election campaign headquarters, stated in a commentary on the 22nd, "Ms. Kim did not conspire in stock price manipulation, and the prosecution conducted an investigation for two years but could not indict due to lack of evidence."

On the 21st, SBS reported that after obtaining and analyzing transaction details from four securities accounts under Ms. Kim's name, prepared by investigative authorities, she repeatedly bought and sold stocks 28 times from October 28, 2010, to January 13 of the following year, earning a profit of over 900 million won. This period was included in the so-called 'operation period' of the Deutsche Motors stock price manipulation group.

In response, spokesperson Lee expressed "strong regret over the arbitrary reporting of Ms. Kim's transaction details and scale based on unidentified sources claiming the data was prepared by investigative authorities, while the prosecution's investigation is ongoing," adding, "The leak of unidentified source materials from investigative authorities just before the presidential election violates current laws such as the disclosure of suspect facts and the Real Name Financial Transactions Act. We will take strong legal action."

Spokesperson Lee argued, "Ms. Kim continuously sold a significant amount of stocks even during periods when the stock price was low, incurring losses," and "If Ms. Kim were an accomplice in stock price manipulation, she would not have cut losses by selling stocks when prices fell." He further questioned, "This is decisive evidence that Ms. Kim is not an accomplice, so why was this part of the transaction history excluded from the report? Why was only the period from October 2010 to January 2011 examined? This is incomprehensible."

Additionally, the spokesperson rebutted, "Ms. Kim conducted long-term, dispersed trading of Deutsche Motors stocks from 2009 to 2017, experiencing profits or losses depending on the trading period," and "If a specific period is arbitrarily set, the quantities of purchases and sales do not match, which can inflate profit calculations. Transactions resulting in losses before and after that period were not reflected in the profit and loss."

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