Kim Gun-hee Sold Entire 2.2 Billion KRW Stake During Deutsche Motors Stock Manipulation Period... Maximum Profit of 3.5 Billion KRW

"Estimated Sales Between May 2010 and 2012"
"Potential Profit Ranging from 200 Million to 3.5 Billion KRW Depending on Timing"

[Asia Economy Reporter Oh Ju-yeon] The Task Force (TF) for Current Issues Response under the Democratic Party of Korea's Election Countermeasures Committee claimed on the 23rd that Kim Geon-hee, spouse of Yoon Seok-yeol, the presidential candidate of the People Power Party, disposed of all her Deutsche Motors stocks worth approximately 2.2 billion KRW during the period of 2010-2012, when stock price manipulation was concentrated. They explained that the profit from this could be up to 3.5 billion KRW.

[Image source=Yonhap News]

On the morning of the same day, the TF stated in a press release, "According to the major shareholder registry in the 2014 Deutsche Motors audit report, as of December 31, 2012, Kim was recorded as holding no Deutsche Motors stocks at all."

The TF pointed out, "(Kim) appears to have disposed of all Deutsche Motors stocks, which amounted to a total of 2.2 billion KRW in 2010, during the period of 2010-2012 when stock price manipulation was concentrated."

They further estimated, "If Kim sold the stocks during the stock price boosting period in the first half of 2011, it is estimated that she realized profits between 1 billion and 3.5 billion KRW. Even if she sold during the stock price defense period in the second half of 2011 or in 2012, she would have realized profits worth approximately 200 million to 2.6 billion KRW."

Kim Byung-gi, head of the TF, emphasized, "The People Power Party should not recklessly dismiss the allegations of stock price manipulation against Kim as spreading false information. Instead, they should transparently disclose the stock transaction details including sales information up to 2012, the selling price of Deutsche Motors stocks, profits realized from Deutsche Motors stocks, and the method of financing the 2.2 billion KRW stock purchase."