A special counsel on Wednesday sought a 15-year prison sentence and a 2 billion won ($1.36 million) fine for former first lady Kim Keon Hee, accusing her of offenses ranging from stock manipulation to bribery and unauthorized interference in state affairs.
Prosecutors, led by special counsel Min Joong-ki, asked the court to impose 11 years for alleged violations of the Capital Markets Act and bribery-for-mediation provisions under the Act on the Aggravated Punishment of Specific Crimes. They requested an additional four years for violating the Political Funds Act.
The team also sought the seizure of 811.4 million won, the amount they say Kim illicitly gained through the alleged stock manipulation scheme.
The sentencing request was delivered during a hearing at the Seoul Central District Court. If convicted, her sentencing would come on Jan. 28.
The charges against the wife of former President Yoon Suk Yeol include conspiring to manipulate the share price of Deutsch Motors between 2010 and 2012 to generate illicit gains, receiving free opinion polling services ahead of the 2022 presidential election and accepting luxury gifts from the Unification Church in exchange for business favors in 2022.
She was indicted by the special counsel’s team earlier this year, becoming the first presidential spouse to be indicted under physical detention.
"There is a lot I feel is unfair (about the trial). ... I apologize to the people for the trouble," Kim said in her final statement.
Kim declined to answer the special counsel’s questions during the 10:10 a.m. court session, instead denying the allegations through a PowerPoint presentation delivered as her final statement.
A man surnamed Lee, believed to be Kim's accomplice in the alleged stock price manipulation, was initially expected to testify in the hearing, but requested not to be summoned. The two sides agreed to his request and Kim's lawyers assented to the prosecution presenting Lee's testimony, submitted to the court on Nov. 28, as evidence in the trial.
The supposed accomplice reportedly told Min's team that he and Kim had discussed trades of Deutsch Motors stock. Lee's short-term trading is thought to have been intended to manipulate the stock price.
The prosecution’s sentencing request reflects the upper range of penalties for concurrent crimes of this scale.
Punishment for concurrent crimes is not determined by simply combining the penalties for all charges, but by taking the heaviest penalty among them and adding up to half of that amount to the base penalty. The final punishment cannot exceed the combined penalty for all charges.
The alleged actions Kim is currently on trial for are violations of the Financial Investment Services and Capital Markets Act, the Political Funds Act and the section on bribery for mediation specified in the Act on the Aggravated Punishment of Specific Crimes. She is also under investigation for other suspicions, including further bribery charges related to other parties, interfering with a state investigation and unauthorized use of cultural heritage assets for personal use.
Kim is scheduled for a separate questioning session at 2 p.m. on Thursday in an additional bribery case, which could lead to further indictments.
minsikyoon@heraldcorp.com
