Prosecutors: "Investigation into Deutsche Motors Stock Manipulation Case Ongoing as Needed"

"Hard to Specify Disposal Timing"... Luxury Bag Investigation Nearing Conclusion

The prosecution stated that it is "continuing the necessary investigation" regarding allegations of stock price manipulation involving Kim Geon-hee, the wife of President Yoon Seok-yeol, in the Deutsche Motors case.

A Seoul Central District Prosecutors' Office official said on the 22nd, in response to a question asking, "The investigation into the luxury handbag bribery case is almost complete, but what stage is the Deutsche Motors case investigation at?" that "Since it is an ongoing investigation, it is difficult to provide specific answers," and made the statement.

[Image source=Yonhap News]

Last month on the 20th, the prosecution questioned Kim Geon-hee as a suspect in both the luxury handbag case and the Deutsche Motors case at the Presidential Security Service facility in Jongno-gu, Seoul. The investigation team for the luxury handbag case has internally concluded that there is no evidence to recognize charges such as violation of the Improper Solicitation and Graft Act or bribery against Kim. It is known that Lee Chang-soo, head of the Seoul Central District Prosecutors' Office, will report these investigation results to Prosecutor General Lee Won-seok on the same day.

When asked whether a decision regarding Kim Geon-hee will be made after observing the appellate court ruling scheduled for the 12th of next month concerning those involved in the Deutsche Motors case, the prosecution official said, "It is difficult to definitively say that the judgment will be made only after the appellate court results," adding, "We are conducting the necessary investigation and will take action once the investigation is complete."

In the legal community, there is widespread speculation that the prosecution will decide whether to indict Kim Geon-hee after reviewing the appellate court ruling on Son Mo, a 'broker' who was acquitted in the first trial. During the appellate trial, the prosecution added charges of 'aiding and abetting' to Son's stock price manipulation conspiracy charges and has been conducting a thorough investigation to determine whether other brokers, including Kim Geon-hee, are also implicated.

A prosecution official said, "We amended the indictment because we judged that the stock price manipulation was recognized and utilized," adding, "It is easier to prove aiding and abetting than joint principal offenders in terms of legal elements." The official also said, "(The summons and investigation of the brokers) are ongoing," and regarding whether Choi Eun-soon, President Yoon’s mother-in-law, will be investigated, said, "Since it is an ongoing investigation, it is difficult to confirm."

Regarding current lawmakers suspected of receiving envelopes containing 3 million won from the camp of Song Young-gil, then a candidate for the Democratic Party leadership election, the official said, "We sent summons requests to six people this week, but they have not yet appeared."

Concerning the fraud and embezzlement charges related to unpaid sales proceeds of TMON and WEMAKEPRICE, the official said, "If it is deemed necessary to summon the representatives, we will proceed at an appropriate time." The prosecution official added, "We inevitably have to look at the overall circumstances that caused the settlement failure," and said they are also examining the acquisition process of Qoo10, which acquired TMON, WEMAKEPRICE, Interpark Commerce, and AK Mall.