All convicted in Deutsche case

[Anchor]

All individuals involved in the Deutsche Motors stock manipulation case, in which First Lady Kim Keon-hee has been implicated, have been found guilty.

The so-called "jeonju" who funded the operation has also been found guilty.

Prosecutors say they are considering whether to reopen the investigation into First Lady Kim’s alleged involvement, and that they will refer to this ruling.

Kim Young-hoon reports.

[Report]

All individuals involved in the Deutsche Motors stock manipulation case, in which First Lady Kim Keon-hee was allegedly implicated, have been found guilty.

The Supreme Court's third division has upheld the guilty verdicts for former Deutsche Motors Chairman Kwon Oh-soo and nine others, including "jeonju" Mr. Son, who were indicted on charges of violating the Capital Markets Act.

They were indicted in Oct. 2021 for systematically manipulating the stock price of Deutsche Motors using borrowed accounts from 2009 to 2012.

In particular, Mr. Son was noted for providing funds for stock manipulation, similar to First Lady Kim, which drew attention to the question of his guilt.

Mr. Son was acquitted in the first trial, but his conviction was overturned in the second trial after being found guilty of aiding the stock manipulation.

Both the first and second trial courts determined that three accounts belonging to First Lady Kim and one account belonging to her mother, Choi Eun-soon, were used in the price manipulation scheme.

The Seoul Central District Prosecutors' Office, which previously investigated First Lady Kim, stated that while her accounts were used in the price manipulation, the circumstances were different from those of Mr. Son, leading to a no-charge disposition in October of last year.

[Cho Sang-won/Deputy Chief Prosecutor, Seoul Central District Prosecutors' Office/Oct. 2024: "It is difficult to view that she entrusted account management or directly engaged in stock trading while being aware of or anticipating the price manipulation..."]

Choi Kang-wook, the former lawmaker who reported the case involving the First Lady, is currently in the process of appealing.

The Seoul High Prosecutors' Office plans to review whether there were any shortcomings in the previous investigation by the Central District Prosecutors' Office based on this Supreme Court ruling and will decide whether to issue a re-investigation order.

KBS News, Kim Young-hoon.