Kim Beom-su, Chairman of Kakao's Management Innovation Committee, who was arrested and indicted on suspicion of manipulating SM Entertainment's stock price, has appointed a large number of former high-ranking judges and prosecutors as his legal counsel. Intense legal battles are expected between the prosecution and these former officials in the upcoming trial. The Seoul Southern District Prosecutors' Office, specializing in financial and securities crimes, has concentrated its investigative efforts for nearly a year and a half, leading to the sudden arrest and trial of a first-generation domestic venture IT conglomerate founder, drawing significant attention from the business community.
Kim Beom-su, Chairman of Kakao's Management Innovation Committee, Indicted on Allegations of 'SM Price Manipulation' / Photo by Hyunmin Kim kimhyun81@
According to the legal community on the 9th, Chairman Kim has appointed a total of 36 lawyers, including those from major law firms such as Law Firm Sejong and Kim & Chang, among whom 13 are former judges and prosecutors. The most notable figure is lawyer Yeo Hwan-seop (Judicial Research and Training Institute class 24). During his tenure as a prosecutor, he handled major cases including indictments against former Daewoo Group Chairman Kim Woo-choong, former lawmaker Lee Sang-deuk, and former National Intelligence Service Director Won Sei-hoon, earning a reputation as a 'special investigation expert.' He served sequentially as head of the 2nd and 1st divisions of the Supreme Prosecutors' Office's Central Investigation Department, chief of the Special 1st Division of the Seoul Central District Prosecutors' Office, and senior researcher at the Anti-Corruption Department of the Supreme Prosecutors' Office. After serving as Chief Prosecutor of the Daejeon High Prosecutors' Office, he was included in the initial candidates for Prosecutor General at the launch of the Yoon Seok-yeol administration in 2022. He tendered his resignation upon the appointment of his junior, current Prosecutor General Lee Won-seok.
At Law Firm Sejong, a total of 24 lawyers were named. Among them, lawyer Lee Jeong-hwan (class 29), a Seoul National University economics graduate, was recognized within the prosecution as a 'financial crime specialist,' having worked at the Financial and Tax Investigation Division 1 of the Seoul Central District Prosecutors' Office and being dispatched to the Joint Investigation Team for Savings Bank Corruption in 2011. He also served as the deputy chief of the Seoul Southern District Prosecutors' Office in 2020. Alongside him, lawyer Kim Min-hyung (class 31), who was also dispatched to the Savings Bank Joint Investigation Team, was acknowledged for his expertise in the field of criminal proceeds recovery. He was assigned to the team recovering fines from former President Chun Doo-hwan in 2013 and, while serving as head of the Criminal Proceeds Recovery Division at the Supreme Prosecutors' Office in 2018, investigated overseas hidden assets of Choi Seo-won (formerly Choi Soon-sil). He served as head of the Fair Trade Investigation Division at the Seoul Central District Prosecutors' Office and obtained the 'Blue Belt,' a level 2 certified specialist qualification in criminal proceeds recovery, in 2021.
Lawyer Lee Geun-soo (class 28), who served as deputy chief of the Seoul Central District Prosecutors' Office and chief prosecutor of the Jeju District Prosecutors' Office, is also included in Chairman Kim's legal team. He investigated and indicted former Blue House Senior Secretary for Civil Affairs Woo Byung-woo during the Park Geun-hye administration's state affairs manipulation scandal.
Among former judges, lawyer Han Seung (class 17), who served as senior judicial research officer at the Supreme Court and chief judge of the Jeonju District Court, draws attention. He defended Samsung Electronics Chairman Lee Jae-yong, securing a dismissal of the arrest warrant, and participated in the legal team representing No So-young, director of the Art Center Nabi, in her divorce lawsuit against SK Group Chairman Chey Tae-won, leading to a first-instance victory. Additionally, lawyers Lee Ho-jae (class 28) and Park Sung-jun (class 31) from Kim & Chang, both former judges of the Seoul High Court, were appointed.
The case of Chairman Kim, who was indicted while in custody, has been assigned to the same trial court (Criminal Division 15 of the Seoul Southern District Court) as the previously indicted cases of former Kakao Chief Investment Officer Bae Jae-hyun and Chairman Ji Chang-bae of One Asia Partners. The first trial date has not yet been set.
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