Former South Korean First Lady Kim Keon Hee Arrested on Charges of Stock Manipulation and Bribery

KAM Isaac
KAM Isaac

Kim Keon Hee, the wife of jailed former South Korean President Yoon Suk Yeol, was arrested on Tuesday following a Seoul court’s approval of a detention warrant over allegations of stock manipulation, bribery, and election interference. The arrest marks an unprecedented moment in South Korea’s political history, as it is the first time both a former president and a former first lady have been imprisoned.

During a four-hour hearing at the Seoul Central District Court, Kim, 52, denied all charges against her. However, the court ruled in favor of her arrest, citing concerns that she might attempt to destroy evidence if released. Dressed in a black suit and skirt, Kim appeared solemn as she addressed reporters before the hearing, stating, “I sincerely apologise for causing trouble despite being a person of no importance.”

Prosecutors allege that Kim illegally profited over 800 million won ($577,940) by participating in a stock price-rigging scheme involving Deutsch Motors, a BMW dealership in South Korea. While the alleged offenses occurred before Yoon’s presidency, the scandal plagued his administration and fueled public distrust.

Additionally, Kim is accused of accepting bribes from the controversial Unification Church, including two Chanel bags and a diamond necklace, in exchange for political favors. The church, known for its aggressive fundraising tactics, has been embroiled in multiple scandals in South Korea and Japan.

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Further charges include allegations that Kim interfered in candidate nominations during the 2022 parliamentary by-elections and 2023 general elections, raising concerns about abuse of power.

Yoon, who was detained in January over his failed martial law declaration in late 2023—an incident that triggered nationwide protests and led to his ouster—had previously vetoed three opposition-led bills calling for a special counsel probe into his wife’s alleged crimes. His final veto came just a week before he imposed martial law, a move that plunged the country into chaos.

After Yoon’s rival, President Lee Jae Myung, took office earlier this year, a special counsel investigation was launched in June, leading to Kim’s arrest. The case has reignited debates about corruption and accountability in South Korean politics, where multiple former presidents have faced indictments but never alongside their spouses.

The arrest has drawn mixed reactions, with Yoon’s supporters calling it “political revenge”, while critics argue it underscores the need for stronger ethical standards among leaders. As the legal proceedings unfold, the case is expected to further polarize the nation’s already divided political landscape.

Kim is expected to remain in custody as prosecutors prepare for trial, while Yoon continues to await his own sentencing. The developments signal a dramatic fall from power for one of South Korea’s most controversial political couples.

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