Kim Yu-cheol, New Chief of Seoul Southern District Prosecutors' Office, "Will Deploy Personnel Specialized in Financial Crimes"

Kim Yu-cheol, the newly appointed head of the Seoul Southern District Prosecutors' Office, which specializes in financial crimes, stated on the 8th, "If there are people who destroy the rules of the game out of personal gain, we will strictly punish them and investigate to ensure that the (economic) order operates fairly and transparently."

[Image source=Yonhap News]

Meeting with reporters that morning, Chief Prosecutor Kim spoke about the future direction of investigations into financial and securities crimes. He added, "The cases at the Southern District Prosecutors' Office are unrelated to any particular direction or ideology, and it is important to enforce the law accurately and swiftly against those who do not follow the rules," emphasizing that "(Prosecutors belonging to the Southern District Prosecutors' Office) also need expertise and diligence." Kim previously served as the head of the Public Investigation Department at the Supreme Prosecutors' Office and has experience as the head of the Wonju branch of the Chuncheon District Prosecutors' Office and as a prosecutor at the Busan High Prosecutors' Office.

Chief Prosecutor Kim stressed that since the Southern District Prosecutors' Office handles many financial and securities crime cases, appropriate personnel allocation will be made accordingly. He said, "In the September personnel reshuffle, deputy chiefs are as important as the newly arriving chiefs," and added, "For example, if a deputy chief who has previously handled cases similar to the Terra and Luna incidents comes, we are considering flexible personnel adjustments such as transferring or reallocating staff according to their expertise and experience." He also mentioned, "I plan to propose assigning prosecutors with specialized skills to the positions of chief and deputy chief prosecutors." The currently vacant position of head of the Financial Investigation Division 1 is also expected to be filled in this reshuffle.

[Image source=Yonhap News]

While receiving the handover from the previous chief prosecutor, Yang Seok-jo, head of the Anti-Corruption Department at the Supreme Prosecutors' Office, Chief Prosecutor Kim was briefed on the top 10 major cases currently underway at the Southern District Prosecutors' Office, including the so-called 'three major fund' cases under reinvestigation: Lime, Optimus, and Discovery funds.

Regarding interpretations that there might be political motives behind appointing Kim, known as a 'public security expert,' as the head of the Southern District Prosecutors' Office where investigations related to opposition politicians are ongoing, Kim said, "There has been much talk about why I was assigned to the Southern District Prosecutors' Office given my background as head of the Public Investigation Department and experience in public security, but I don't think there is any special meaning." He added, "I believe the role of the prosecution in election monitoring and punishment is important ahead of next year's general election." He also stated, "I will conduct investigations fairly to avoid any concerns."

Currently, the Southern District Prosecutors' Office is conducting reinvestigations into the three major fund cases, and is also investigating the case of independent lawmaker Kim Nam-guk, who is suspected of holding large amounts of cryptocurrency. The office has also indicted opposition figures such as Democratic Party lawmakers Ki Dong-min and Lee Soo-jin (proportional representation) on charges of receiving illegal political funds from Kim Bong-hyun, former chairman of Star Mobility, who is called the 'mastermind of Lime.'

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