President Yoon's Statute of Limitations Suspended for False Information Disclosure Charge...Prosecutors "Ongoing Investigation"

Minju Accuses Deutsche Motors of False Statements and Failure to Report Property Including Bail

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] The prosecution has announced its intention to continue investigating the case in which the Democratic Party of Korea filed a complaint against President Yoon Seok-yeol for alleged violations of the Public Official Election Act, regardless of the statute of limitations suspension.

On the 8th, the Seoul Central District Prosecutors' Office stated, "Considering that the statute of limitations has been suspended for the cases involving false statements related to Deutsche Motors and asset declarations reported against presidential candidate Yoon Seok-yeol in the 20th presidential election, we plan to continue the investigation."

The statute of limitations for election law violations that occurred during the last presidential election period (six months from the election day) will expire on the 9th, but President Yoon holds immunity from prosecution during his term, so this statute of limitations does not apply to him.

The Democratic Party filed a complaint with the prosecution on the 5th of this month, accusing President Yoon of making false statements regarding Kim Geon-hee's 'Deutsche Motors stock price manipulation suspicion' during the People Power Party's presidential primary last October.

The suspicion centers on the allegation that Ms. Kim transferred stocks she owned and a Shinhan Securities account containing 1 billion KRW to Mr. Lee, who was involved as a 'player' in the Deutsche Motors stock price manipulation from February to May 2010, thereby participating in the stock price manipulation.

President Yoon explained that Ms. Kim entrusted all stock trading to a person introduced as an investment expert and severed ties with him, but the Democratic Party claims this contradicts the contents of a recorded conversation revealed during the stock price manipulation case trial.

The Democratic Party also filed a complaint with the prosecution, citing that President Yoon failed to report three high-value items?a pendant, bracelet, and brooch?during the asset registration process as a candidate in the last presidential election.

Under the Public Official Election Act, spouses of candidates are required to report jewelry items worth over 5 million KRW per item as assets.

The prosecution has dismissed or returned to the police other cases related to President Yoon involving violations of the Public Official Election Act without indictment.

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