South Korea's Ex-First Lady Kim Keon Hee Arrested Amid Bribery and Stock Manipulation Allegations

The former first lady of South Korea, Kim Keon Hee, has been arrested on serious charges including stock manipulation and bribery. During a recent court hearing, she denied the allegations, but a detention warrant was issued due to concerns about potential evidence destruction. This unprecedented situation underscores the ongoing turmoil within South Korea's political realm, as both the former president and first lady find themselves in legal jeopardy.

Kim Keon Hee, the wife of South Korea’s jailed ex-president Yoon Suk Yeol, has been arrested, facing multiple charges that include stock manipulation and bribery. During a four-hour judicial review in Seoul on Tuesday, the former first lady firmly denied all allegations leveled against her. However, the court opted to issue a detention warrant due to concerns regarding the likelihood of her destroying evidence related to the case.

This incident marks a notable chapter in South Korea's political history, as it is the first case where both a former president and first lady have been incarcerated simultaneously. Yoon Suk Yeol has been in detention since January, awaiting trial associated with a controversial attempt to impose martial law, which caused significant unrest and ultimately led to his removal from office.

Prosecutors allege that Kim, age 52, earned upwards of 800 million won (approximately $577,940 or £428,000) by engaging in an illegal price-rigging scheme tied to the stocks of Deutsch Motors, a South Korean BMW dealership. Although these activities allegedly took place prior to her husband's election, they have continued to overshadow his presidency. In addition to stock manipulation, Kim is accused of accepting luxury items, including two Chanel handbags and a diamond necklace, reportedly as bribes from the contentious Unification Church, in return for favoritism in business dealings.

Further complicating matters, she faces accusations of interference in candidate selection processes during the parliamentary by-elections of 2022 and last year's general elections. Dressed in somber black attire during Tuesday's hearing, Kim expressed her remorse, stating, “I sincerely apologise for causing trouble despite being a person of no importance,” to the assembled press.

While serving as president, Yoon wielded his veto power against three opposition-driven proposals aimed at launching a special investigation into the allegations against Kim, with the last veto occurring shortly before he announced the intent to enact martial law. After Yoon's rival, Lee Jae Myung, ascended to the presidency, a special counsel was initiated in June to delve deeper into the numerous allegations surrounding the couple.