Kim Yeseong Leaves for Vietnam in April...
Passport Invalidation Procedures Begin
Investigating Allegations of Quid Pro Quo Investment
Intensified Pressure from All Angles
Yoon Changho, former president of Korea Securities Finance, is appearing on the 17th at the special prosecutor Min Jungki's office investigating allegations against First Lady Kim Gunhee, located in the KT Gwanghwamun Building West in Jongno-gu, Seoul. Photo by Yonhap News
The special prosecutor team led by Min Jungki, which is investigating the full range of allegations surrounding First Lady Kim Gunhee, is accelerating its investigation into the so-called "Butler Gate." After obtaining an arrest warrant for Kim Yeseong, known as the First Lady's butler, from the court, the special prosecutor team has gained momentum and is expected to intensify its pressure on Kim from multiple angles.
On the 17th, the special prosecutor team summoned Yoon Changho, former president of Korea Securities Finance, and Kim Ikrae, former chairman of Daou Kiwoom Group, as witnesses for questioning. Cho Hyunsang, vice chairman of HS Hyosung, who is currently on an overseas business trip, is scheduled to be summoned on the 21st, and the team is coordinating the schedule to summon Kim Beomsoo, founder of Kakao.
Yoon appeared at the special prosecutor's office in the KT Gwanghwamun Building West at around 9:28 a.m. that day. He did not respond to reporters' questions about his relationship with Kim or the reasons behind his decision to invest in Kim's side. Kim Ikrae entered the building earlier at around 7 a.m., before reporters had gathered.
Despite being aware that IMS Mobility (formerly Be My Car), a rental car company in which Kim was involved in establishing, was effectively in a state of capital erosion, these individuals invested 18.4 billion won in June 2023 through the fund management company Oasis Equity Partners (Oasis). The special prosecutor team suspects that these companies may have invested in Kim, a close aide to the First Lady, for the purpose of seeking favors to resolve their own business issues. The team believes that "the First Lady's influence" may have played a role in the decision to invest.
The special prosecutor team is also investigating the purchase of IMS shares worth more than 4.6 billion won held by an investment company called Innovest Korea. Innovest is known to have been established by Kim in 2022, and its only registered executive director at present is his wife, identified as Ms. Jeong. The team is tracking the whereabouts of the 4.6 billion won, keeping open the possibility that the funds may have been funneled to the First Lady's side.
Kim left for Vietnam on April 4, immediately after the impeachment of former President Yoon Sukyeol, and it was additionally confirmed that his two children also went to Vietnam on the 1st of this month. Contact with Ms. Jeong has also not been established. The special prosecutor team has begun procedures to invalidate Kim's passport. Based on the arrest warrant issued by the court, the team plans to work with Interpol to locate Kim's whereabouts.
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