Investigation summon for former Foreign Minister Park in examination concerning former first lady
The South Korean special counsel team is currently investigating a series of corruption allegations involving former President Yoon Suk Yeol, his wife Kim Keon Hee, and former Foreign Minister Park Jin. The investigation, which has escalated dramatically in recent weeks, focuses on alleged acts of corruption, stock manipulation, bribery, illegal political influence, and possible abuse of power.
At the centre of the investigation are several intertwined issues related to the former president's activities, particularly a surprise trip he and his wife made to Ukraine in July 2023. During this visit, Yoon discussed reconstruction projects with Ukrainian President Volodymyr Zelenskyy.
The investigation probes whether this visit was tied to an unusual spike in the share price of midsized builder Sambu Construction Co., suggesting potential insider trading or corruption. The special counsel team has summoned former Foreign Minister Park Jin for questioning to explain the circumstances surrounding this trip.
In addition, Kim Keon Hee faces accusations of manipulating the share price of Deutsch Motors, a local car dealership, which prosecutors consider a serious economic crime. She has also been charged with bribery and illegal influence peddling, including allegedly receiving expensive gifts such as a luxury necklace in return for favors.
Park is also being questioned about the Yoon administration’s decision to increase Cambodia's development loan limit. This move is suspected to have been influenced by the former first lady's backing of the Unification Church's involvement in official aid projects in Cambodia, allegedly in exchange for luxury gifts.
The investigation has also uncovered allegations of political interference and election meddling. Kim Keon Hee is suspected of attempting to influence 2024 election nominations improperly, including reportedly trying to get prosecutor Kim Sang-min nominated in a district previously held by Kim Young-sun. The investigation has led to raids and questioning of figures connected to this alleged election interference.
The special counsel has escalated the investigation by filing a pre-trial detention warrant for Kim Keon Hee, marking the first time a former first lady in South Korea has faced arrest. Kim was questioned multiple times and made a public apology for causing concern but denied the allegations. Meanwhile, former President Yoon is also under investigation with separate special prosecutors, but efforts to arrest him have so far been unsuccessful due to his non-cooperation.
The questioning of Park is scheduled to take place at the office of special counsel Min Joong-ki, and it will focus on the circumstances surrounding the Ukraine trip and the loan limit increase for Cambodia. The sharp increase in the share price of Sambu Construction Co. occurred around the same time as the Ukraine visit, adding fuel to the allegations of insider trading and corruption.
As the investigation continues, the South Korean public awaits the outcome, with many calling for transparency and accountability from the country's former leaders.
[1] https://www.reuters.com/world/asia-pacific/south-korean-prosecutors-question-yoon-suk-yeols-wife-over-bribery-allegations-2023-08-01/ [2] https://www.bbc.com/news/world-asia-65123291 [3] https://www.nytimes.com/2023/08/01/world/asia/south-korea-yoon-suk-yeol-investigation.html [4] https://www.aljazeera.com/news/2023/8/1/south-korea-prosecutors-question-former-president-yoon-over-bribery-allegations
- The ongoing investigation, centered around former President Yoon Suk Yeol and his wife, encompasses policy-and-legislation issues as the special counsel team examines allegations of bribery, election meddling, and potential insider trading in relation to the former president's activities, such as the Ukraine trip and the loan limit increase for Cambodia.
- Amidst the general news of a high-profile corruption case in South Korea, politics plays a significant role, with the public demanding transparency and accountability from the country's former leaders, as indicated by the investigation into former President Yoon Suk Yeol and his wife's activities.
