The National Assembly of South Korea approved a bill to launch a special investigation into First Lady Kim Keon Hee’s allegations of stock manipulation on Dec. 28. This is the first time that a special counsel probe - an investigation by an independent counsel also known as a special prosecutor - related to the president’s wife has been proposed and unilaterally approved by the main opposition Democratic Party.
The so-called “Kim Keon Hee Special Prosecution Act” marks a historic first in South Korean politics as it didn’t follow the customary bipartisan approach to appointing special prosecutors to handle politically sensitive cases involving high-profile figures.
Bipartisanship is especially important when investigating allegations related to only one of two parties. Previously, special prosecutors were appointed through bipartisan agreements to ensure legitimacy and public acceptance of the investigation outcomes, as seen in the Choi Soon-sil and Druking cases. The Democratic Party’s current approach is concerning as it allows the party that holds the majority in parliament to use special prosecutors at their convenience.
This special counsel probe aims to determine whether the first lady was involved in manipulating stock prices of Deutsche Motors, a BMW car dealer in Korea, between 2009 and 2012. The former Moon Jae-in administration investigated this case for more than a year and a half, but no charges were filed against Kim.
The fact that the bill’s approval took place just 100 days before the general election suggests that the opposition party intends to use the investigation as a tool rather than seeking justice.
The bill also allows for the investigation of “illegal acts by relevant persons found to be suspected of crimes in the course of the investigation” and “incidents recognized in the course of the investigation,” meaning that anything related to the first lady is open to probe. Furthermore, the special prosecutor is appointed by the opposition party, not the ruling party, which could lead to a potentially biased investigation.
The Democratic Party also passed a bill to launch a special counsel probe into the Daejang-dong development scheme on the same day, which is also stirring controversy. The case was first brought forward by a former aide of Lee Nak-yeon, the former leader of the Democratic Party. It was initially investigated by prosecutors during the Moon administration. It was a fight among themselves.
However, as prosecutors uncovered more allegations against Democratic Party leader Lee Jae-myung and his aides, the case was reclaimed for reinvestigation by the opposition party, possibly to undermine the credibility of the investigation before the election.
The presidential office announced that President Yoon Suk Yeol will veto both bills. The Democratic Party had anticipated this move and pushed ahead anyway, hoping that a veto would further antagonize public sentiment towards the president and the ruling party. Never before in the history of the Constitution has a special prosecutor been so blatantly for electoral advantage.
The Democratic Party has been able to pull this move because public opinion towards President Yoon and the first lady is divided. Yoon’s approval rating is less than 40 percent, and Kim’s approval rating is decidedly lower even among conservatives. Polls show that public support for the “Kim Keon Hee Special Prosecution Act” hovers around 70 percent and opposition to a presidential veto is around 70 percent. Unless fundamental problems are swiftly addressed, similar political maneuvers may continue to shape the political landscape.
