Kim Bong-hyun, Who Announced Intention to Speak, Remains Silent at the Crossroads of Detention Decision

Prosecutors Forcefully Detain Ahead of Warrant Hearing
No Response After Hearing Ends

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] Kim Bong-hyun, former chairman of Star Mobility and a key figure in the Lime Asset Management scandal involving a redemption suspension worth about 1.6 trillion won, underwent a pre-trial detention hearing (warrant substantive examination) at the court on the morning of the 20th.

After the warrant hearing presided over by Judge Hong Jin-pyo of the Seoul Southern District Court, Kim left the courtroom without responding to reporters' questions such as "Do you admit the charges?"

Earlier, the prosecution filed a pre-arrest warrant on the 14th of this month, accusing him of deceiving about 350 people by promising guaranteed principal and returns on investments in unlisted stocks between 2017 and 2018, embezzling approximately 9 billion won.

The prosecution, fearing he might flee, executed an arrest warrant at his residence before the warrant hearing.

The prosecution’s surprise execution of the arrest warrant was confirmed to be due to concerns over Kim’s potential flight risk. A prosecution official explained, "Considering various circumstances such as his absence from previous substantive hearings and trial sentencing dates, we judged there was a flight risk."

The warrant hearing was originally scheduled for the 16th of this month, but Kim requested a postponement citing the need to appoint an additional lawyer and did not appear in court that day.

Initially, Kim’s side planned to hold a press briefing around 10 a.m. on the day of the warrant hearing. Kim’s lawyer stated, "Due to the prosecution’s arrest warrant execution, the scheduled press briefing could not be held." However, Kim did not make any statements to reporters even after the hearing concluded.

Meanwhile, the decision on Kim’s detention is expected to be made late in the afternoon of the same day.

Kim was arrested and indicted in May 2020 on charges including embezzling hundreds of millions of won from Suwon Passenger Transport and Star Mobility funds and providing money and entertainment to politicians and prosecutors. He was released on bail in July this year and has been undergoing trial without detention.

The first trial verdict related to allegations of entertaining current and former prosecutors is scheduled for the 30th of this month.

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