SEOUL, South Korea – The Special Prosecutor's Office, led by Special Prosecutor Min Joong-ki, investigating allegations surrounding Kim Keon-hee, the wife of former President Yoon Suk-yeol, has expanded its initial official itinerary to include a visit to the Financial Supervisory Service (FSS) in addition to meetings with top prosecution officials. This move signals a broad and swift start to the high-profile investigation.

The special prosecution team, officially launched to probe various allegations against Ms. Kim, announced its visit to the FSS on Wednesday afternoon. This development comes after an initial series of meetings with key prosecutorial figures, including Seoul High Prosecutors' Office Chief Prosecutor Park Se-hyun, Seoul Central District Prosecutors' Office acting chief prosecutor Park Seung-hwan, and Seoul Southern District Prosecutors' Office Chief Prosecutor Shin Eung-seok.

The FSS is currently investigating the Sambu Engineering & Construction (Sambu E&C) stock manipulation case, an ongoing probe into allegations that Sambu E&C officials artificially inflated stock prices between May and June 2023 by fabricating claims of involvement in Ukraine's reconstruction efforts. This alleged scheme reportedly generated tens of billions of won in illicit profits. The special prosecutor's decision to visit the FSS underscores the team's intention to thoroughly examine all potential connections to Ms. Kim.

Allegations of Involvement in Sambu E&C Stock Manipulation

The connection to Ms. Kim emerged when Lee Jong-ho, former CEO of Black Pearl Investment, a key figure in the Deutsche Motors stock manipulation case and allegedly a manager of Ms. Kim's bank accounts, was found to have sent a message stating "Check Sambu" in a group chat before Sambu E&C's stock price surged. This revelation fueled suspicions that Mr. Lee and, by extension, Ms. Kim, were involved in the alleged stock manipulation scheme. The special prosecutor's team will likely seek to obtain relevant investigation records and potentially request the dispatch of FSS investigators to the special prosecutor's office to aid in their inquiries.

Meetings with Prosecutorial Leadership

Prior to the FSS visit, Special Prosecutor Min Joong-ki and his team commenced their official duties by meeting with senior prosecutors. At 2:00 PM, they met with Park Se-hyun, Chief Prosecutor of the Seoul High Prosecutors' Office. This was followed by a meeting at 2:35 PM with Park Seung-hwan, First Senior Prosecutor of the Seoul Central District Prosecutors' Office, who is currently serving as the acting chief prosecutor. Later, at 4:00 PM, the team met with Shin Eung-seok, Chief Prosecutor of the Seoul Southern District Prosecutors' Office.

During these meetings, Special Prosecutor Min discussed the cases that would be transferred from the regular prosecution to the special prosecution team. He also requested cooperation regarding the dispatch of prosecutors and investigators to the special prosecutor's office. These discussions are crucial for ensuring a smooth handover of relevant evidence and personnel, laying the groundwork for the special prosecutor's independent investigation. The special prosecutor's office is granted broad powers to investigate and prosecute cases, including the authority to request information and personnel from other government agencies.

Broad Strokes from the Outset

The addition of the FSS to the special prosecutor's initial itinerary, following the high-level meetings with various prosecution offices, demonstrates the team's commitment to a comprehensive and aggressive approach from the very beginning. This "wide-ranging" action, as described by local media, suggests that the special prosecution is not limiting its scope and intends to pursue all avenues related to the allegations against Ms. Kim.

It is anticipated that during the FSS visit, Special Prosecutor Min will have received briefings on the ongoing investigation into the Sambu E&C stock manipulation case. Furthermore, he likely sought the FSS's cooperation in dispatching personnel to assist the special prosecutor's independent investigation. Collaboration between the special prosecutor's office and other regulatory bodies like the FSS is vital for effective investigations, particularly in complex financial cases.

Establishing a Temporary Office

In preparation for their extensive work, the special prosecution team has established a temporary office in a building in Seocho-dong, Seocho-gu, Seoul. This move came after their initial plan to use the KT West Building in Gwanghwamun was abandoned due to ongoing construction. The temporary office will serve as the operational hub for the team as they proceed with key preliminary tasks, including the selection of dispatched prosecutors and the prioritization of investigation targets. The establishment of a dedicated and secure office space is a critical step in setting up any large-scale, independent investigation.

Special Prosecutors' Pledge for Independence

The four special prosecutors — Kim Hyung-geun, Park Sang-jin, Moon Hong-joo, and Oh Jung-hee — issued a joint statement on Wednesday, emphasizing the gravity of their mission. They stated, "We are acutely aware of the public significance and national interest surrounding this case. We will uphold our calling as legal professionals and the independence of our duties without wavering due to political considerations or external pressure." This pledge underscores the team's commitment to conducting a fair, impartial, and thorough investigation, free from any undue influence. The public's trust in the special prosecutor's independence is paramount, given the high-profile nature of the individuals involved.

The Kim Keon-hee Special Prosecutor Team's swift and expansive initial actions suggest a determined effort to thoroughly investigate the various allegations. The inclusion of the FSS visit highlights the team's focus on financial impropriety, specifically the Sambu E&C stock manipulation case, which has drawn significant public attention due to its alleged links to Ms. Kim. The coming weeks will likely see further developments as the team consolidates its resources and defines its primary investigative paths.

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