[Edaily Reporter BAEK JU-A ] This week, first-instance rulings are expected in the cases of First Lady Kim Geon-hee, who was indicted on allegations of “selling official positions” involving the so-called “golden turtle” and precious metals, and former Justice Minister Park Seong-jae, who is suspected of involvement in the declaration of martial law on December 3.
In addition, court hearings will begin in earnest regarding the reorganization proceedings filed by ContentreeJoongAng corp.—an affiliate of the Joongang Group—and its subsidiary Megabox Joongang, following JTBC’s declaration of default.

According to legal circles on the 21st, Criminal Division 21 of the Seoul Central District Court (Presiding Judge Jo Sun-pyo) will hold the first-instance sentencing hearing on the 26th for Mrs. Kim’s case involving charges of receiving bribes through intermediaries under the Act on the Aggravated Punishment of Specific Crimes. Sentencing for Lee Bong-gwan, chairman of SEOHEE CONSTRUCTION CO., LTD.(035890); Lee Bae-yong, former chairman of the National Education Commission; businessman Seo Seong-bin; and Pastor Choi Jae-young—who were indicted alongside her—is also scheduled to take place at the same time.

Mrs. Kim was indicted on allegations of so-called “selling public office”—specifically, accepting various valuables such as precious metals, a gold turtle, and expensive paintings in exchange for public office. She was also charged with accepting money and gifts from figures in various industries under the pretext of favors or business assistance.

The Kim Geon-hee Special Prosecutor’s Office (led by Special Prosecutor Min Jung-ki) sought a prison sentence of 7 years and 6 months for Mrs. Kim at the final hearing held last month.

The special counsel’s team stated, “The crimes in this case constitute ‘sale of public office,’ in which the defendant, Kim Geon-hee, as the President’s spouse, repeatedly accepted money and valuables by using the President’s authority as a bargaining chip in private transactions,” adding, “As the spouse of the President—who, under the Constitution, is the head of state and head of the executive branch and oversees all administrative affairs—she is required to maintain a higher level of self-restraint and integrity than anyone else and must strictly distance herself from private interests.”

The special prosecution team criticized, “Nevertheless, Ms. Kim accepted requests from businesspeople and politicians regarding various favors—such as personnel appointments, party nominations, and business concessions—and repeatedly received high-value precious metals, luxury watches, and works of art in return,” adding, “This effectively reduced the state’s public authority and influence to a commodity for monetary transactions.”

Mrs. Kim’s side denies the charges, arguing that these were merely personal gifts and that no specific requests for favors were made. Mrs. Kim’s attorney stated, “We deeply regret the defendant’s careless conduct,” but requested that the court “take into consideration the fact that she never once solicited money or valuables, that she returned the items—albeit belatedly—that no specific requests for favors existed, and that, as the President’s spouse, she never issued any specific instructions.”

In her final statement, Mrs. Kim said, “I sincerely and deeply regret my reckless behavior,” adding, “I sincerely apologize to the public for having come to this point, and I will humbly accept the court’s decision. I will spend the rest of my life atoning for my actions.”

◇Sentencing Also Scheduled for Former Minister Park and Former Head of the Legislative Affairs Bureau Lee Wan-kyu on Perjury Charges

The 33rd Criminal Division of the Seoul Central District Court (Presiding Judge Lee Jin-gwan) will hold the first-instance sentencing hearing on the 22nd for former Minister Park, who is charged with engaging in a major task related to insurrection, and former Head of the Legislation and Legal Affairs Office Lee Wan-kyu, who is charged with perjury. The verdict was originally scheduled to be handed down on the 9th, but the sentencing date was postponed by about two weeks.

Former Minister Park is accused of participating in former President Yoon Suk-yeol’s insurrection by, among other things, ordering the Ministry of Justice’s Immigration Bureau’s Departure Prohibition Team to remain on emergency standby following the declaration of martial law, reviewing the dispatch of prosecutors to the Joint Investigation Headquarters, and directing the securing of detention space in correctional facilities.

He is also accused of accepting a request from Mrs. Kim to perform his duties improperly and dismissing related cases without charges, as well as instructing the Ministry of Justice’s Prosecution Division to draft a document containing arguments justifying martial law—actions that went beyond his official duties.

Former Director Lee was indicted for giving false testimony before the National Assembly regarding the so-called “secret meeting” held on December 4, 2024—the day after the declaration of a state of emergency—at a safe house in Samcheong-dong, Seoul, with former Minister Park, former Minister of the Interior and Safety Lee Sang-min, and former Senior Secretary for Civil Affairs Kim Ju-hyun.

At the sentencing hearing held last April, the Special Prosecutor’s Office for the Insurrection (led by Special Prosecutor Jo Eun-seok) sought a 20-year prison sentence for former Minister Park and a 3-year prison sentence for former Director Lee.

◇ Proceedings to Proceed in Order: Joongang Holdings, P&I, JTBC, Megabox, and ContentreeJoongAng corp.

The Seoul Bankruptcy Court’s 2nd Reorganization Division (Presiding Judge Jeong Jun-young) will hold hearings for the representatives of five JoongAng Group affiliates, including JTBC, in succession on the 23rd.

The hearings are scheduled to take place sequentially, starting with JoongAng Holdings at 10:00 a.m., followed by JoongAng P&I at 11:00 a.m., JTBC at 2:00 p.m., Megabox JoongAng at 3:00 p.m., and ContentreeJoongAng corp. at 4:00 p.m.

It is expected that Hong Jeong-in and Nam Yong-seok, CEOs of Megabox Joongang; Lee Jung-won, CEO of Joongang P&I and Joongang Holdings; and Jeon Jin-bae, CEO of JTBC, will attend the hearings in their capacities as representatives.

During the hearing, the court will ask questions regarding the representatives’ personal information, an overview of the debtor, the status of assets and liabilities, and the reasons for filing for reorganization, and will hear their responses.

Based on this, the court will review the debtor’s profile, the status of affiliated companies, the status of assets and liabilities, and the reasons for filing for reorganization proceedings, and decide whether to commence the reorganization proceedings. It is also expected to determine whether to apply the Autonomous Restructuring Support (ARS) program requested by JTBC. The Debtor Reorganization Act stipulates that a decision on whether to commence reorganization proceedings must be made within one month of the filing date.

Previously, on the 12th, JTBC—a core affiliate of the Joongang Group—declared a default after failing to repay 20.6 billion won in securitized debt on time. Subsequently, on the 14th, Joongang Holdings, ContentreeJoongAng corp., Joongang P&I, and Megabox Joongang filed applications to initiate rehabilitation proceedings. Joongang Holdings, ContentreeJoongAng corp., and others also applied for provisional measures and comprehensive injunctions, and JTBC subsequently filed an additional petition for rehabilitation.

Subsequently, on the 15th, the court issued preservation orders and comprehensive injunctions to Megabox Joongang, Joongang P&I, Joongang Holdings, ContentreeJoongAng corp., and JTBC, respectively.