Kim Gun-hee Special Counsel Says on Min Joong-ki's 'Pre-Delisting Exit' Allegations: "Share Introducer Was Not a Company Official"

"I did not use personal connections... This matter is unrelated to the special prosecutor team"
Selection of deputy special prosecutors to be finalized soon

The special prosecutor team led by Min Joong-ki, which is investigating various allegations involving Kim Gun-hee, has once again issued clarifications regarding suspicions over Min's sale of shares in a solar energy company. Following Min's personal apology, the special prosecutor's office stated that the individual who introduced the shares was not affiliated with the company.

Min Joong-ki, the special prosecutor in charge of the case related to allegations against Kim Gun-hee, wife of former President Yoon Seok-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 Jo Yongjun

At a regular briefing on the 20th, Special Prosecutor Park Sangjin said, "I heard that Min is acquainted with the CEO of Neosemitech as they are school alumni," but added, "At that time, I understand that 20 to 30 alumni jointly invested as part of a venture investment."

He further emphasized, "The acquaintance who introduced the unlisted shares in the early days of the company's founding was not the CEO or a company official," and stated, "The shares were purchased 25 years ago and sold 15 years ago, so this matter cannot be considered related to the special prosecutor team." This explanation was intended to clarify that no undisclosed information was obtained through personal connections.

It was revealed that while serving as a presiding judge at the Seoul High Court, Min sold unlisted shares of Neosemitech, a solar material company, just before its delisting and realized a capital gain of about 150 million won, which sparked suspicions of insider trading. The company was delisted after the shares were sold due to accounting fraud.

Suspicions were raised that Min, being a high school and university alumnus of the company's CEO and selling shares just before delisting, may have profited unfairly. On the 16th, four days after these suspicions first emerged, Min issued a public statement saying, "I apologize for the controversy regarding my personal stock transactions," and added, "However, I want to make it clear that there were no illegal acts, such as the use of undisclosed information, during the acquisition and sale of the shares."

Meanwhile, the special prosecutor's office may proceed with the nomination process for two additional deputy special prosecutors as early as today. Special Prosecutor Park stated, "The selection of successor deputy special prosecutors is nearly complete," and added, "The appointment process will likely take place today or tomorrow."

On this day, the special prosecutor team conducted searches and seizures at three offices within education support offices, including the Department of Student Life Education Support and the Department of Elementary Education Support at the Seongnam Education Support Office, as well as the Department of Education at the Gapyeong Education Support Office, in connection with allegations of a cover-up of school violence involving the presidential office's protocol secretary's child. In addition, regarding suspicions of changes to the endpoint of the Yangpyeong Expressway, Kim, an executive director at Kyungdong Engineering, the firm that conducted the feasibility study, was summoned for questioning.

Regarding the "Gold Turtle bribery allegations," the scheduled questioning of former National Education Commission Chairperson Lee Baeyong at 10 a.m. was again canceled due to health reasons. Special Prosecutor Park stated, "A statement of non-attendance was submitted through Lee's attorney," and explained, "According to the report, surgery is required due to a fracture, and general anesthesia is necessary."

He added, "Since we need to clarify the exact (criminal) circumstances, we are considering summoning Lee as a witness," and noted, "Depending on the situation, the investigation team is also considering changing Lee's status to that of a suspect."

If it is determined that Lee continues to be absent without a valid reason, there is a possibility that an arrest warrant may be requested. Previously, Han Hakja, President of the Unification Church, also failed to comply with three summonses by the special prosecutor's office citing health reasons, which led to an arrest warrant being issued.