No Indictment for Kim Geonhee in Deutsche Stock Manipulation Case
Special Prosecutor Min Denies Reports of Resignation, Emphasizes "Not True"
The special prosecutor team led by Min Jungki is launching a full-scale investigation into allegations of inadequate investigation and cover-up by prosecutors, including the decision not to indict Kim Geonhee, who was suspected of involvement in the Deutsche Motors stock manipulation case.
Kim Geonhee, wife of former President Yoon Seokyeol, who is accused of violating the Capital Markets and Financial Investment Services Act, the Political Funds Act, and the Act on the Aggravated Punishment of Specific Crimes (receiving bribes), is leaving the courtroom after attending the pre-arrest detention hearing at the Seoul Central District Court in Seocho-gu, Seoul on August 12, 2025. Photo by Joint Press Corps
At a regular briefing on the 28th, Special Prosecutor Kim Hyeonggeun stated, "We are reorganizing the team with special investigators who are primarily lawyers, and we plan to review the records of complaints related to Articles 14 and 15, Paragraph 1, of the Special Prosecutor Act. Since most of the cases under Articles 14 and 15 are related to previous prosecutorial investigations, we have determined that, for the sake of fairness, it is appropriate to exclude those with prosecutorial backgrounds and instead have lawyers or former police officers conduct the investigation."
Article 14 of the Special Prosecutor Act covers cases in which public officials are suspected of intentionally delaying, concealing, or protecting suspects in investigations related to Kim Geonhee, or of destroying or instructing the destruction of evidence. Article 15 pertains to allegations that former President Yoon Seokyeol or the presidential office interfered with investigations or inquiries.
The new investigation team is expected to handle cases including suspicions of inadequate prosecutorial investigation into the Deutsche Motors stock manipulation. The Seoul Central District Prosecutors' Office conducted a non-public field investigation of Kim Geonhee last year and decided not to indict her in October. After former President Yoon was removed from office, the Seoul High Prosecutors' Office ordered a reinvestigation. The special prosecutor team, which took over the case, then indicted Kim Geonhee, leading to controversy over the initial prosecutorial investigation.
In connection with this, Shim Woojeong, former Prosecutor General; Lee Changsu, former Chief Prosecutor of the Seoul Central District Prosecutors' Office; and Cho Sangwon, former Deputy Chief Prosecutor of the Seoul Central District Prosecutors' Office, were also reported for dereliction of duty.
The special prosecutor team announced that, following the recent recall of Chief Prosecutor Han Munhyeok, Chief Prosecutor Ki Noseong will now be in charge of the investigation and prosecution regarding the Deutsche Motors and Sambu Construction stock manipulation cases.
Chief Prosecutor Han was recalled the previous day after it was revealed that he had socialized with Lee Jongho, former CEO of Black Pearl Invest and a co-conspirator in Kim Geonhee's stock manipulation case. In 2021, Han attended a drinking gathering with Lee and an acquaintance, while he was participating in the investigation at the Anti-Corruption Investigation Division 2 of the Seoul Central District Prosecutors' Office. He continued to be involved in the investigation as part of the Seoul High Prosecutors' Office reinvestigation team and the special prosecutor team this year, but failed to report this private meeting.
Meanwhile, the special prosecutor team strongly denied reports that Special Prosecutor Min had offered to resign but was asked by the presidential office to stay. Previously, a news outlet reported that Special Prosecutor Min had gone directly to the presidential office to express his intention to resign immediately after allegations of undisclosed stock transactions emerged, but that the presidential office’s civil affairs line had asked him to remain in his position until the end of next month.
Special Prosecutor Kim emphasized, "Overall, this is not true," adding, "The special prosecutor believes that personal matters should not affect the investigation and is committed to fulfilling his duties, so it is not appropriate to comment further on the details."
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