South Korea: Special counsel grills wife of ex-first lady’s associate over suspicious investments

Seoul, July 23 (SocialNews.XYZ) Special Prosecutor Min Joong-ki's team investigating various allegations involving former first lady Kim Keon Hee questioned the wife of her fugitive associate Wednesday about allegations of his misuse of private funds.

The 48-year-old associate, named Kim Ye-seong, who is often dubbed the butler of the former first lady's family, has not returned home after leaving the country in April this year amid suspicions that he had received 18 billion won (US$13.1 million) in dubious investments from several companies, including Kakao Mobility, Shinhan Bank and Kyeong Nam Steel Co., through his rental car company IMS in 2023.

Kim is suspected of pocketing 4.6 billion won of the investments by selling IMS equities through a dubious venture company, where his wife, surnamed Jeong, is the only registered director.

The special counsel team reportedly questioned Jeong about how she became the director of the venture company, why the transactions of IMS stocks occurred, and how the 4.6 billion won was used, Yonhap news agecy reported.

The team also called in former and incumbent executives of Shinhan Bank and Kyeong Nam Steel to question them about the investments into IMS.

Earlier on Monday, a special counsel team questioned a key associate of former first lady over allegations he peddled his influence to secure a suspended prison sentence for a business partner.

The team, led by special counsel Min Joong-ki, summoned Lee Jong-ho, former head of investment firm Blackpearl Invest, to its office in central Seoul, two days after it raided his home and car.

Source: IANS