South Korean court increases Kim Keon-hee’s corruption sentence to 4 years
The court also imposed a US$47,000 fine on Kim after finding her guilty of stock manipulation and bribery
South Korea’s former First Lady Kim Keon-hee was sentenced on Tuesday to four years in prison for stock manipulation and bribery, after an appeal court increased her earlier sentence.
The court said that Kim had participated in manipulating the price of a thinly traded Korean stock with multiple traders, reversing a lower court’s ruling that acquitted her of the charge.
It also found that she accepted two Chanel bags and a Graff necklace, worth around 80 million won (US$54,257) in total, from the Unification Church while aware the church expected political favours for its overseas business.
“Kim exerted her influence as first lady and committed the bribery,” the lead judge said.
“She damaged public trust in government transparency and caused a rift in public opinion over national affairs.”
The court also fined Kim 70 million won and ordered the confiscation of the necklace.