Suspicions Raised Over Ties With Company CEO and Classmate
Direct Explanation After 'Ethics Concerns' Emerge
"Personal Matters Should Not Affect the Investigation"
Min Joong-ki, the special prosecutor investigating various allegations involving Kim Gun-hee, has issued a direct apology regarding suspicions over the sale of solar company stocks. However, he clarified that "there were no illegal actions."
Min Joong-ki, the special prosecutor in charge of the case related to allegations involving Kim Gun-hee, wife of former President Yoon Suk-yeol, is giving a greeting at the plaque unveiling ceremony held on July 2, 2025, at the special prosecutor's office set up in the KT Gwanghwamun Building West in Jongno-gu, Seoul. Photo by Cho Yongjun
On the 20th, through a press notice, Special Prosecutor Min stated, "I apologize for the controversy caused by my personal stock transactions," and added, "I want to make it clear that there were no illegal actions, such as the use of undisclosed information, during the acquisition or sale of the stocks."
He continued, "I believe that the ongoing special prosecutor's investigation should not be affected by my personal matters from 15 years ago," and added, "I will quietly fulfill my duties as special prosecutor." Special Prosecutor Min also expressed his condolences regarding the Yangpyeong County official who recently died after being questioned by the special prosecutor's team, saying, "I pray for the deceased and once again offer my deepest condolences to the bereaved family."
It was revealed that, while serving as a presiding judge at the Seoul High Court, Special Prosecutor Min sold unlisted shares of NeoSemitech, a solar materials company, just before its delisting, earning a profit of about 150 million won. This led to suspicions of using undisclosed information. The company was delisted after the shares were sold due to accounting fraud.
Suspicions were raised that Special Prosecutor Min may have gained unfair profits, as he was a high school and university classmate of the company's CEO and sold the shares just before the delisting. In response, Special Prosecutor Min made a direct statement on the 16th, four days after the allegations first surfaced.
It is known that Kim Gun-hee also traded NeoSemitech shares at one point, which Special Prosecutor Min had owned. The special prosecutor's team also investigated this stock investment while probing Kim Gun-hee's alleged involvement in the Deutsche Motors stock manipulation case.
On the 17th, the special prosecutor's team explained in a press notice that Special Prosecutor Min had invested about 30 to 40 million won in the early 2000s through an acquaintance who was not affiliated with the company, and sold the shares for about 130 million won in 2010 on the recommendation of a securities firm employee. However, criticism has been raised that suspicions are growing because no further details about the circumstances have been provided.
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