Berliner Boersenzeitung - South Korea prosecutors raid party HQ after ex-first lady arrested

Former first lady Kim Keon Hee was arrested late Tuesday on a range of charges including stock manipulation and corruption, prosecutors said.

Her arrest came hours after Seoul Central District Court reviewed the prosecutors' request for an arrest warrant against the 52-year-old.

The court granted the warrant, citing the risk of tampering with evidence, after prosecutors submitted an 848-page opinion laying out Kim's alleged "unlawful acts".

Prosecutors said Wednesday they raided the People Power Party office to collect evidence of Kim's alleged meddling in parliamentary elections.

Yoon quit the party in May after his removal from office but endorsed its candidate in the snap presidential election that was won by the Democratic Party's Lee Jae Myung.

Opposition leader Song Eon-seog slammed the raid as "nothing short of gangster behaviour".

"I cannot contain my outrage at the Lee Jae Myung administration's ruthless political persecution and retaliation against the opposition, spearheaded by the special prosecution," Song said at a news briefing.

With the arrest, South Korea now has a former president and first lady both behind bars for the first time in the nation's history.

The charges against Kim include violations of capital market and financial investment laws, as well as political funds laws.

The arrest caps a dramatic fall for the former first couple after Yoon's stunning martial law declaration on December 3, which saw soldiers deployed to parliament but was swiftly voted down by opposition MPs.

Yoon, a former top prosecutor, was impeached and removed from office in April over the martial law declaration, prompting the country to hold a snap election in June.

He has been in detention since July 10.

- Criticised over handbag -

Last week, Kim underwent hours-long questioning by prosecutors, who filed for an arrest warrant the next day.

"I sincerely apologise for causing trouble despite being a person of no importance," Kim said as she arrived at the prosecutors' office on Wednesday.

Controversy has long surrounded Kim, with lingering questions about her alleged role in stock manipulation.

Public criticism was reignited in 2022 when a left-wing pastor filmed himself presenting her with a Dior handbag that she appeared to accept.

She is also accused of interfering in the nomination process for MPs in Yoon's party, a violation of election laws.

Yoon, as president, vetoed three special investigation bills passed by the opposition-controlled parliament that sought to probe the allegations against Kim, with the last veto issued in late November.

A week later, Yoon declared martial law.

Investigators also searched an interior company allegedly linked to Kim in connection with suspected favouritism in repairs to the presidential office.

While she would typically have been held at the same detention centre as her husband, prosecutors on Monday requested that she be detained at a separate facility about 20 kilometres (13 miles) away.

Her Presidential Security Service protection was terminated once the warrant was issued.

Kim can be held for up to 20 days as prosecutors prepare to formally indict her, legal expert Kim Nam-ju told AFP.

"Once Kim is indicted, she could remain detained for up to six months," the lawyer said.

The former first lady can challenge the warrant in court as unlawful, "but given the current circumstances, there appears to be a high risk of evidence destruction, making it unlikely that the warrant will be revoked and the individual released," he added.

"Another option is bail, but this too is not granted if there are concerns about the destruction of evidence."

(T.Burkhard--BBZ)