The Supreme Court will rule on the 12th on Rep. Yang Moon-seok of the Democratic Party of Korea, who received a ruling nullifying his election in both the first and second trials on charges including loan fraud. If the Supreme Court upholds the appeals court's ruling, Yang will lose his seat.
According to legal sources on the 6th, the Supreme Court's Third Division (Presiding Justice Lee Heung-gu) will hold a sentencing hearing at 11:15 a.m. on the 12th for Yang, who was brought to trial on charges including fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes and violations of the Public Official Election Act.
Yang, together with a spouse, a person surnamed Seo, is accused of deceiving the Korean Federation of Community Credit Cooperatives (KFCC) in Apr. 2021 by making it appear that their college-age child was legitimately operating a business, fraudulently obtaining 1.1 billion won in corporate operating funds, and using the money as funds to purchase an apartment in Seocho-gu, Seoul.
Yang also faces charges of posting a false statement on Facebook in Mar. 2024, after the allegation surfaced ahead of the 22nd general election, saying in effect that there was no intentional deception of the Korean Federation of Community Credit Cooperatives (KFCC).
He is also accused of violating the Public Official Election Act by reporting, during the general election candidate registration process, the value of an apartment in Seocho-gu, Seoul, co-owned with a spouse, at its assessed price of 2.156 billion won—964 million won lower than the actual transaction price.
Yang was brought to trial in Sep. 2024. In the first trial last Mar., the court sentenced Yang to one year and six months in prison, suspended for three years, for fraud under the Specific Economic Crimes Act, and fined him 1.5 million won for violating the Public Official Election Act. However, the court found him not guilty of charges related to exercising forged private documents connected to the fraud.
His wife, Seo, was found guilty of fraud under the Specific Economic Crimes Act and forging and using private documents, and was sentenced to two years in prison, suspended for three years. Both Yang's side and prosecutors appealed, and the appeals court reached the same conclusion.
If the appeals court's ruling is finalized by the Supreme Court, Yang will lose his seat under the Public Official Election Act and the National Assembly Act.