Police Suspend Investigation of Kim Younghong's Close Associate, the Mastermind Behind Lime Fraud, Who Fled Abroad

Chairman Kim on the Run... Difficult to Determine Presence of Criminal Charges

[Asia Economy Reporter Jang Sehee] The police have halted the investigation into a close associate of Kim Younghong, chairman of Metropolitan and a key figure in the Lime Asset Management (Lime) case.

On the 18th, the Gangnam Police Station in Seoul decided to suspend the investigation into Kim, a relative and close associate of Chairman Kim, who is accused of aiding a criminal. This decision was made on the grounds that it is impossible to determine whether the witness is involved in a crime before investigating the whereabouts of Chairman Kim, who is currently missing.

A police official stated, "Although some investigation into Kim was conducted, we decided to suspend the investigation as we could not determine whether there was any criminal involvement." Kim had been staying in the Philippines and returned to Korea in May, after which he was banned from leaving the country and has been under police investigation. However, if Chairman Kim's whereabouts are confirmed and the suspension of the suspect status is lifted, the related investigation may resume.

Meanwhile, Chairman Kim is identified as the mastermind behind the Lime case, having received approximately 300 billion KRW in investments from the Lime fund under the pretext of overseas resort projects. He fled abroad in October 2019 and remains missing to this day.