Kim Keon Hee recording raises questions about past investigation

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Kim Keon Hee recording raises questions about past investigation

Published: 19 Jun. 2025, 00:00

Audio report: written by reporters, read by AI

Kim Keon Hee, wife of former President Yoon Suk Yeol [NEWS1]

A new recording tied to Kim Keon Hee, wife of former President Yoon Suk Yeol, has shifted the trajectory of the investigation into allegations that she was involved in manipulating the stock price of Deutsch Motors. Prosecutors at the Seoul High Prosecutors’ Office, which reopened the case in May, recently secured a large volume of audio files during a search and seizure of Mirae Asset Securities, where Kim held an account.

According to sources, the recordings capture Kim discussing a profit-sharing arrangement in which 40 percent of earnings would be distributed to Black Pearl Investment, a company identified as the command center of the alleged stock-rigging scheme. This suggests that Kim may have been aware of or even complicit in the scheme in advance. Financial industry experts say such a high percentage of profit-sharing would be unusual under ordinary trading conditions.

The audio evidence calls into question the integrity of the original four-year investigation conducted by the Seoul Central District Prosecutors’ Office. In October 2024, the office concluded Kim was not criminally liable and declined to indict her, stating she had entrusted her account to then-Deutsch Motors Chairman Kwon Oh-soo but was unaware of any illegal activity. Yet within just a month of reopening the case, the Seoul High Prosecutors’ Office uncovered material that could reverse the earlier decision. This raises concerns about whether the initial probe was negligent — or even compromised. The prosecution now faces mounting criticism that it may have pulled punches to avoid targeting those close to power.

Further fueling suspicion is Kim’s reported use of a secure, encrypted phone during the same period. Before the October 2024 decision, Kim allegedly communicated via such a phone with Kim Joo-hyun, then-senior presidential secretary for civil affairs, and Prosecutor General Shim Woo-jung. These phones are typically used by high-level government or security officials due to their resistance to wiretapping and the inability to record conversations. It is difficult to explain why the first lady, a private citizen with no official authority, was using such a device. It is equally troubling that the nation’s top prosecutor was equipped with one. Although Shim claimed the calls had no connection to the case, public trust demands transparency about whether the presidential office exerted any influence on the investigation.

Prosecutor General Shim Woo-jung speaks in a parliamentary inspection of the Supreme Prosecutors' Office on Oct. 21, 2024. [JOONGANG ILBO]

Meanwhile, the independent counsel team led by Special Prosecutor Min Jung-ki is accelerating preparations for a full inquiry. Four deputy prosecutors joined the team this week and issued a joint statement vowing to conduct their work with full independence, undeterred by political considerations or outside pressure. Their investigation must be swift and thorough, leaving no doubt as to the facts.

It is also necessary to examine whether the initial probe was intentionally mishandled. Kim, who is currently hospitalized, should fully cooperate with the special prosecutor’s inquiry.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.