South Korean National Assembly Approves Investigation into First Lady Amid Stock Manipulation Allegations

SEOUL — The South Korean National Assembly, led by the opposition Democratic Party (DP), has passed two special investigation proposals, including one probing into alleged stock manipulation by First Lady Kim Keon Hee. The ruling People Power Party (PPP) boycotted the vote, criticizing the move as a political tactic aimed at undermining President Yoon Suk Yeol's administration ahead of the April general elections.

According to Yonhap News Agency, the investigation is crucial as it holds even the highest office's relatives accountable. Kim is accused of manipulating the stock prices of Deutsch Motors Inc. between 2009 and 2012, which she denies. The second proposal pertains to the '5 billion club' scandal involving promises of large sums of money from an asset management firm in a corrupt development project. President Yoon Suk Yeol's office announced his intention to veto the bills, despite potential electoral backlash, arguing for the remaining three years of his term.

scroll to top