野 "Kim Geon-hee indictment and punishment inevitable... President Yoon faces additional charge of false information disclosure"

"Urgent Call for Swift Prosecutorial Investigation"

[Asia Economy Reporter Oh Ju-yeon] The Democratic Party of Korea intensified pressure on June 4, urging the prosecution to investigate the stock price manipulation allegations involving First Lady Kim Keon-hee in the Deutsche Motors case.

[Image source=Yonhap News]

Kim Seung-won, the Democratic Party's legal committee chairman, stated in the morning through the "Press Release Urging Investigation into First Lady Kim Keon-hee's Stock Price Manipulation Allegations," "First Lady Kim faces charges of violating the Capital Markets Act, and President Yoon Suk-yeol has newly been added charges of false statement publication under the Public Official Election Act," adding, "It is inevitable to indict and punish the First Lady."

Chairman Kim cited a NewsTapa report, saying, "During the trial process of the Deutsche Motors stock price manipulation case, a recorded phone conversation of the First Lady was disclosed. This revealed that she was deeply involved in the stock price manipulation and that statements related to then-candidate Yoon during the presidential election period were false."

Kim explained, "On January 12, 2010, the First Lady approved a securities firm employee's purchase of Deutsche Motors stocks. Accordingly, the employee bought 155,000 shares worth 380 million won through the First Lady's account, and the employee sent text messages to her intermittently saying 'I will report to you.'"

He emphasized, "In conclusion, from January 12, 2010, when the stock price manipulation through market price adjustment began, the First Lady, through the securities firm employee, concentrated purchases of 670,000 shares worth 1.7 billion won over seven trading days. Many of these transactions are recorded as criminal acts in the indictment, which is clear evidence of her active involvement in the stock price manipulation."

He also said, "President Yoon's side claimed during the presidential election period that 'the First Lady cut ties with Mr. Lee, a member of the stock price manipulation group, on May 20, 2010,' but this was also untrue," adding, "Even before the disclosure of the above recording, there was evidence found in various places that could raise suspicion of the First Lady's involvement in stock price manipulation." He continued, "The claims by President Yoon and the People Power Party, who insisted throughout the election period that First Lady Kim Keon-hee had no connection to the stock price manipulation, are false information and violations of the Public Official Election Act," and concluded, "We once again urge the prosecution to promptly investigate the First Lady according to law, principles, evidence, and legal reasoning so that the public can approach the substantive truth as soon as possible."

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