Court Grants Bail to Kim Man-bae and Shin Hak-rim Amid 'False Interview' Allegations

Kim Man-bae, the major shareholder of Hwacheon Daeyu Asset Management, and Shin Hak-rim, former chairman of the Media Union, who were indicted and detained on charges including defamation of President Yoon Seok-yeol through false interviews during the last presidential election, have had their bail applications accepted.

Under the Criminal Procedure Act, a defendant can be detained for up to six months during the first trial stage. Kim and former chairman Shin, who were detained around mid-June, were scheduled to be released as their detention period was set to expire between December and January.

From the left, Kim Man-bae, major shareholder of Hwacheon Daeyu Asset Management, and Shin Hak-rim, former chairman of the Korean Federation of Journalists' Unions. Photo by Yonhap News Agency

The Seoul Central District Court Criminal Division 21 (Presiding Judge Heo Kyung-moo) made a decision to grant bail to Kim and former chairman Shin on the 20th.

Bail is a system that suspends detention execution on the condition of paying a certain deposit, allowing the detained defendant to be released. Following the court's bail approval decision, Kim and former chairman Shin are expected to be released from the detention center on the same day and to stand trial while not in custody.

Presiding Judge Heo accepted their bail applications with conditions including ▲submission of a written pledge to appear at the time and place designated by the court and not to destroy evidence ▲residence restrictions ▲submission of a written pledge not to leave the country without court permission ▲bail deposit of 30 million won (fully covered by a surety insurance) ▲compliance with designated conditions.

Additionally, the court imposed conditions such as ▲obligation to attend trials ▲prior notification and approval from the court for travel abroad or trips lasting more than three days ▲prohibition from meeting or contacting any parties related to this case or related cases in any manner, and immediate reporting to the court of any contact or communication from such parties, including details and circumstances.

Previously, Kim submitted his bail petition to the court on the 1st, and former chairman Shin on the 9th.

Both were indicted and detained on July 8 this year on charges of defaming President Yoon through false reports related to the Busan Savings Bank investigation during the last presidential election, and receiving 165 million won in exchange (defamation under the Information and Communications Network Act, etc.).