Former chairman Kwon Oh-soo attends the sentencing hearing of the appeals case related to the stock price manipulation of Deutsch Motors at the Seoul High Court in Seocho-gu, Seoul, last April. /Courtesy of News1

Kim Keon-hee's special investigation team summoned former Deutsch Motors chairman Kwon Oh-soo on the morning of the 3rd.

The special investigation team noted that it is currently investigating Kwon, a key figure in the 'Deutsch Motors stock manipulation' case.

The Deutsch Motors stock manipulation case involves Kwon, the largest shareholder and CEO of the listed company Deutsch Motors, who conspired with 13 individuals, including current and former employees of securities firms, to illegally trade 15.99 million shares of Deutsch Motors (worth 63.6 billion won) using 157 accounts from 2009 to 2012. In this case, Kwon received a three-year prison sentence, with four years of probation.

The prosecution's investigation revealed that stock manipulation orders were submitted from accounts under the name of Kim Keon-hee. However, on October 17, during the administration of former President Yoon Suk-yeol, the prosecution concluded that it would not charge Kim. This conclusion came five months after the appointment of Lee Chang-soo, a chief prosecutor classified as a loyalist to Yoon, to the position.

At the time, the prosecution judged that it was difficult to acknowledge that Kim conspired with the main perpetrators or participated in the crimes by entrusting account management or placing stock trade orders while being aware of or anticipating their stock manipulation activities.

As the controversy escalated, the Seoul High Prosecutors Office initiated a re-investigation into Kim on April 25, six months after the central district prosecutors office decided not to charge her.

Currently, the special investigation team is reported to be investigating whether Kim knew in advance about the stock manipulation circumstances.

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