Examining the Wealth and Honor Kim Keonhee Claims to Have Lost Because of Her Husband

The appellate closing hearing was held yesterday (Sept. 9) for Kim Keonhee, who was sentenced to seven years in prison in her first trial on charges of graft in public appointments. Special Prosecutor Min Joong-ki's team asked the court to uphold the original verdict and sought a seven-year prison sentence. Kim's defense attorney countered, arguing, "The special prosecutor has failed to sufficiently prove a quid pro quo relationship between the solicitations and the money or valuables," and requested an acquittal. The attorney also pleaded for leniency, asking the court to consider that Kim had returned some of the gifts, is currently standing trial in multiple cases simultaneously, and is in poor health. However, what captured public attention was something else: Kim Keonhee's tearful final statement.

Kim opened by saying, "I sincerely apologize to the public for causing disappointment." She acknowledged, "The role of the president's spouse was one of immense responsibility, and I should have been far more prudent." Yet, she maintained her innocence, stating, "I cannot admit to things I never did." She argued, "Never once did I receive anything from anyone in exchange for public office or national projects, nor did I ever use presidential authority to grant positions or business opportunities." She continued, "Anyone who has worked with President Yoon Suk Yeol would know. He is not someone who grants requests just because his wife asks. I feel this is so unfair." She lamented, "To me, the position of the president's spouse was a role where I surrendered what I had for the country," adding, "I was far more well-off economically when running businesses before marriage, but after my husband became president, I lost everything—my wealth and my honor." Weeping, she pleaded with the court, "I ask the court to preserve at least my minimal honor so that my entire life is not defined by things that are not true," and concluded, "I will spend the rest of my life repenting."

What wealth and honor did she claim to have lost because her husband became president? Let us examine the wealth first. Before her marriage, Kim faced suspicions of participating in a stock price manipulation scheme led by former Deutsch Motors Chairman Kwon Oh-soo. Kim allegedly acted as a financier providing funds, or at the very least lent her accounts to the price-manipulation ring. Kim's side explained, "She entrusted her investments to a stock specialist for about four months, but severed ties after suffering losses." However, prosecutorial investigations and court proceedings revealed circumstances showing that multiple accounts under the names of Kim and her mother were mobilized in market manipulation trades during that period. Furthermore, contrary to her explanation, prosecutors concluded that Kim and her mother gained nearly 2.3 billion won in profits across multiple brokerage accounts.

Suspicious "sponsorship bribes" involving Covana Contents, an exhibition planning firm where Kim served as CEO, also emerged. Major conglomerates under investigation by the prosecution—entities linked to the official duties of Yoon Suk Yeol, who was then Prosecutor General—provided substantial sponsorships for exhibitions hosted by Covana Contents. However, prosecutors cleared her of charges, citing difficulties in proving a quid pro quo. Allegations also persist regarding involvement in real estate development corruption in the Gongheung district of Yangpyeong connected to Kim's maternal family. In the urban development project carried out by Kim's mother and a family-owned corporation, the development impact fee assessed was zero won. They even obtained retroactive extensions for authorization deadlines. The special prosecution team indicted lawmaker Kim Seon-gyo, who was the mayor of Yangpyeong County at the time, on charges of granting preferential treatment, and the case is currently in its first trial. If these constitute the "economic gains" she claimed to have "achieved before marriage," one must question whether this is wealth whose loss justifies feelings of injustice.

What about her honor? Allegations surfaced that her career credentials and award histories listed on applications for adjunct professorships and lecturer positions at Suwon Women's University, Anyang University, and Kookmin University were falsified or exaggerated. Questions were raised over whether she truly served as a planning director at the Korea Game Industry Association, the exaggeration of her Executive MBA degree from Seoul National University's Graduate School of Business, and fraudulent listings of awards. In a public press conference in late 2021, Kim issued an official apology, admitting, "There were instances where I exaggerated and incorrectly stated my credentials to look good." Extensive plagiarism controversies also erupted over her doctoral dissertation and published papers at Kookmin University's Graduate School of Techno Design, as well as her master's thesis at Sookmyung Women's University's Graduate School of Education. Sookmyung Women's University ultimately judged her master's thesis to be plagiarized, leading to the cancellation of her doctoral degree from Kookmin University as well. Does she mean she lost honor because previously buried credential falsifications and plagiarism were exposed once her husband became president? That is absurd.

Let us also look into her claim: "President Yoon Suk Yeol is not someone who grants requests just because his wife asks. I feel it is so unfair." There are numerous instances where former President Yoon Suk Yeol bore significant political burdens to protect Kim Keonhee. A prime example is blocking investigations into Kim regarding various allegations. The investigation into her alleged involvement in the Deutsch Motors stock manipulation was never conducted properly during Yoon's presidency and ultimately concluded without indictment. She was indicted only after Yoon's impeachment and has now received a partial guilty verdict in her second trial.

The episode that most starkly illustrated the former president shielding his wife was the controversy over the prosecution's "imperial off-site questioning." Video footage surfaced showing Kim receiving luxury gifts, including a Dior handbag worth millions of won, from Korean American pastor Choi Jae-young and engaging in conversations involving solicitations. When controversies over violations of the Improper Solicitation and Graft Act mounted because no statutory written declaration or return of the gift had occurred, then-President Yoon Suk Yeol consented to a prosecutorial questioning of Kim. However, instead of summoning Kim to their offices, prosecutors conducted an off-site questioning at an annex of the Presidential Security Service, and it was even revealed that prosecutors had surrendered their mobile phones during the interrogation. Fierce public outcry erupted over both the "imperial questioning" treatment and allegations of external pressure to suppress the investigation.

There is also the controversy over the sole-source contract for interior remodeling at the presidential residence in Hannam-dong. The interior firm 21Gram, which was awarded the contract, turned out to have previously sponsored Kim Keonhee's Covana Contents. This inevitably raised suspicions of preferential treatment and allegations that Kim had received solicitations. An audit by the Board of Audit and Inspection confirmed that a firm with personal ties to Kim, lacking even the proper license for construction on a top-security national facility, won the contract, and numerous unlicensed subcontractors engaged in illegal multi-tier subcontracting. The Myung Tae-kyun gate scandal, which resulted in convictions for meddling in party nominations and elections, also caused massive societal shockwaves. At this point, it is reasonable to suspect that former President Yoon took care of solicitations on his own even before Kim had to ask.

In the trial that held its closing arguments yesterday (Sept. 9), the list of items confirmed or suspected of being received by Kim is dazzling. The first trial found her guilty of receiving luxury jewelry—including a Van Cleef & Arpels necklace, a Tiffany brooch, and Graff earrings—from a construction company chairman, a Vacheron Constantin wristwatch from a businessman, and a Dior handbag from a pastor. She also faces allegations of receiving a gold turtle figurine from former chairperson Lee Bae-yong and a painting by Lee Ufan from former prosecutor Kim Sang-min.

Even if she received them with no intention of fulfilling requests, as Kim's defense attorney claimed, it remains profoundly inappropriate. No one gives expensive valuables to a president's spouse without intent, even if they do not make an immediate solicitation. "The shock our society sustained from this crime, the damage to public integrity, and the degree of illegality far exceed cases in which high-ranking officials such as cabinet ministers accept similar solicitations and valuables," the special prosecution team declared in its closing statement. One cannot help but feel regretful wondering whether Kim ever gave any thought to the intangible asset of 'national dignity' and the honor of being the 'First Lady.'

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