與 "Kim Geon-hee - Deutsche Motors Chairman, Economic Collusion"… People Power Party "Baseless"

Kukim "The Real Collusion is Between Kim Man-bae, Yoo Dong-gyu, and Candidate Lee"

Kim Geon-hee, spouse of Yoon Seok-yeol, the People Power Party's presidential candidate, is removing her mask for identity verification at an early voting station set up at the Seocho 1-dong Community Center in Seocho-gu, Seoul, on the 4th.
Photo by Asia Economy

[Asia Economy Reporter Na Yeeun] The Democratic Party of Korea claimed that Kim Gun-hee, the spouse of Yoon Seok-yeol, the presidential candidate of the People Power Party, has maintained an economic collusion relationship for 20 years with Kwon Oh-soo, chairman of Deutsch Motors, who was arrested and indicted on charges of stock manipulation. In response, the People Power Party denied the allegations as "baseless."

The Democratic Party's Election Countermeasures Committee's Task Force for Current Issues Response stated in a press release on the 7th, "It is known that Kim made remarks in a recently released recording suggesting that she had been in business with Chairman Kwon, who was arrested and indicted for stock manipulation of Deutsch Motors, for 20 years."

They continued, "Starting with an off-market purchase of Deutsch Motors stocks worth 800 million KRW in 2009, Kim accumulated about 4.9 billion KRW worth of Deutsch Motors stocks. This largely coincides with the period of stock manipulation specified by the prosecution."

They added, "In 2017, Kim also signed an additional acquisition contract for Deutsch Financial stocks worth 2 billion KRW, which was at a 20% discount compared to institutional investors," emphasizing, "The total transaction amount related to Chairman Kwon's stocks reaches 7.1 billion KRW."

Furthermore, the task force claimed, based on Deutsch Motors' Q3 2014 disclosure documents, that Kim lent 1 billion KRW to the company interest-free. They also stated, "Economic exchanges between the two were also conducted through Kobana Contents, operated by Kim," mentioning, "Chairman Kwon sponsored cultural events ten times over ten years, all of which benefited Kobana Contents."

The task force explained, "Recently, a 2011 Seoul National University Graduate School of Humanities top leadership course classmate notebook was revealed, listing Kim as 'Director of Deutsch Motors Product and Design Strategy Team,' further deepening suspicions of inappropriate economic collusion between Kim and Chairman Kwon."

They argued, "Considering the 20-year business relationship revealed in the recording and the long-standing economic exchanges between the two, Kim was likely in a position to easily know about the Deutsch Motors stock manipulation crime."

Chairman Kwon Oh-soo, suspected of stock manipulation and breach of trust at Deutsch Motors. / Photo by Asia Economy

On the other hand, the People Power Party denied the allegations as "baseless." In a notice sent to the press corps on the 7th, the party stated, "All transactions were normal money lending, ticket purchases and promotions, and stock trading," adding, "Neither Kim nor Chairman Kwon are public officials, so the claim of collusion cannot be established."

They continued, "The real collusion is between Kim Man-bae, Yoo Dong-gyu, and the Daejang-dong team and candidate Lee Jae-myung," pointing out, "Nam Wook admitted that under Yoo Dong-gyu's instructions, he was active as a comment brigade during candidate Lee's re-election. There is also testimony that 360 million KRW was handed over to Yoo Dong-gyu during the election period. Candidate Lee appointed Yoo Dong-gyu as the person in charge of the Daejang-dong project, and Yoo Dong-gyu promised bribes from Kim Man-bae and Nam Wook, only running projects that enriched private contractors."

They concluded, "Instead of focusing on baseless false negatives unsupported by facts, it is time to care for the lives of ordinary people ruined by the Democratic Party's mismanagement."

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