Will 'Aiding Stock Manipulation' Be Recognized... Second Trial Verdict for First Lady Kim Keon-hee Today

Yonhap News Agency

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The appellate court ruling for First Lady Kim Keon-hee, who has been indicted on charges including receiving money and valuables from the Unification Church, will be delivered on April 28, 2026. The key issue is whether the appellate court will overturn the first-instance ruling of not guilty in the so-called "Deutsche Motors stock price manipulation" case by recognizing her as an accomplice who aided and abetted the crime.

The Criminal Division 15-2 of the Seoul High Court (Presiding Judges Shin Jong-o, Sung Eon-joo, and Won Ik-seon) will hold the sentencing hearing for Kim in the afternoon at 3 p.m. on charges including violation of the Capital Markets Act and receiving brokered bribes under the Act on the Aggravated Punishment of Specific Economic Crimes. As in the first trial, the appellate court has decided to broadcast the sentencing hearing live.

Kim is accused of receiving, between April and July 2022, a Graff diamond necklace worth approximately 62 million won and two Chanel bags worth a total of about 20 million won from former Unification Church World Headquarters chief Yoon Young-ho, in exchange for lobbying for support for the church. The special prosecution team led by Min Jung-ki believes that these valuables were delivered via Jeon Seong-bae, known as "Geonjin Bopsa."

In addition, Kim faces charges of ▲participating in the Deutsche Motors stock price manipulation scheme from 2010 to 2012 and obtaining illicit profits of over 800 million won, and ▲receiving the results of public opinion polls worth 270 million won from Myung Tae-kyun before and after the presidential election free of charge. In the previous closing argument, the special prosecutor requested the same sentence as in the first trial: 15 years in prison.

The Criminal Division 27 of the Seoul Central District Court (Presiding Judge Woo In-seong), which handled the first trial, found Kim guilty only for the charge of receiving valuables from the Unification Church out of the three charges, and sentenced her to one year and eight months in prison.

At that time, the first-instance court stated regarding the stock manipulation charge, "Although Kim may have been aware of the activities of the group, there is insufficient evidence to see her as a principal offender who orchestrated the crime," and rendered a not-guilty verdict. Regarding the public opinion poll charge, the court said, "There is no evidence that Kim ordered or commissioned the polls, nor is there any data to suggest that an implicit contract was established."

The main issue in this appeal trial is whether Kim will be found guilty as an aider and abettor in the stock manipulation case. During the appellate proceedings, the special prosecutor amended the indictment to include an alternative charge, requesting that Kim be punished as an accomplice. Even if it is difficult to see her as a principal offender as in the first trial, if she is found to have aided the crime-such as by knowingly lending her account despite being aware of the manipulation-the not-guilty verdict from the first trial could be overturned.

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