[Asia Economy Reporter Kwon Seoyoung] Jeong Gyeongshim, former professor at Dongyang University, who was sentenced to four years in prison for admission fraud and violation of the Capital Markets Act related to private equity funds, will spend another Lunar New Year in detention.
According to the legal community on the 29th, after the Supreme Court's final ruling on the 27th, Jeong's status changed from a detainee to a convicted prisoner. Jeong, who is incarcerated at Seoul Detention Center, will undergo a classification review that comprehensively analyzes psychological and intellectual factors as well as the risk of recidivism, and will be transferred to a correctional facility appropriate to her security treatment level. Depending on the conditions of the correctional facility, she may remain at Seoul Detention Center or be hospitalized if her health condition requires it.
Previously, Jeong was investigated by prosecutors for allegations related to forged certificates and private equity funds after her husband, former Minister of Justice Cho Kuk, was nominated as minister in August 2019. She was detained by prosecutors in October 2019 on charges including violation of the Capital Markets Act and was tried. She was released in May 2020 upon expiration of the detention period but was re-incarcerated after being sentenced to four years in prison in the first trial in December of the same year. Her expected release date is around May 2024.
During the trial, Jeong repeatedly applied for bail citing health issues, but the court did not accept her requests. After the Supreme Court's decision, former Minister Cho posted on his Facebook, "I thought our family would gather and eat dinner together tonight, but it turned out to be a vain hope." However, the Correctional Headquarters decided to allow external visits at all correctional facilities except those where COVID-19 cases were confirmed on the last day of the Lunar New Year holiday, February 2nd. It is also reported that 'smart visits' via non-face-to-face methods will be permitted only for inmates' families.
Meanwhile, former President Lee Myung-bak, who was excluded from the New Year's pardon, will also spend the Lunar New Year in prison. Lee, who was hospitalized at Seoul National University Hospital in Jongno-gu, Seoul on the 17th for tests related to chronic illness, was discharged on the 28th and returned to Anyang Prison. After hospitalization for diabetes-related treatment, Lee waited for about two weeks to undergo tests but was unable to proceed because his blood sugar did not fall below a certain level. Lee's side stated, "Since it is uncertain when the tests will be conducted, he returned to prison for now and will undergo tests again in the future."
Lee was arrested in March 2018 on charges including embezzlement and bribery and was imprisoned for one year before being released on bail in March 2019. While on bail, he was tried but was sentenced to 17 years in prison in the second trial in February 2020 and was re-arrested in court. However, he appealed the bail cancellation decision and was released again after six days. Later, in October 2020, his sentence was finalized by the Supreme Court, and he was incarcerated at Dongbu Detention Center on November 2nd of the same year. After a COVID-19 outbreak in the correctional facility, he was transferred to Anyang Prison.
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