Former Incheon Mayor Yoo Jeong-bok Forwarded to Prosecutors Over Omission of Spouse's Crypto Assets

Former Incheon Mayor Yoo Jeong-bok, who was reported over allegations of omitting cryptocurrency holdings during the June 3 local elections, has been forwarded to the prosecution service.

The Incheon Metropolitan Police Agency's Anti-Corruption and Economic Crime Investigation Unit 1 announced today (October 29) that it has forwarded former Mayor Yoo to the prosecution service without detention on charges of violating the Public Official Election Act by publicizing false information for the purpose of winning the election.

Former Mayor Yoo is suspected of drafting and distributing election bulletins that omitted the cryptocurrency owned by his wife, surnamed Choi, during the June 3 local elections.

Choi reportedly transferred 21,000 cryptocurrencies, valued at approximately 100 million won, to an overseas exchange in December 2024.

At the time, the camp of Incheon mayoral candidate Park Chan-dae filed a complaint with the police against former Mayor Yoo and his wife about 10 days before the election, and the Incheon Election Commission subsequently filed an additional complaint after concluding there were grounds for potential election law violations.

The police concluded that former Mayor Yoo had omitted the asset declaration in violation of the Public Official Election Act, while deciding not to forward his wife Choi, determining that the charge of conspiracy did not apply.

A police official stated, "We found the charges under one count of the Public Official Election Act to be substantiated and forwarded the case to the prosecution service," adding, "Specific details of the investigation cannot be disclosed."

(Photo: Provided by Incheon Metropolitan City, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.