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South Korea’s Antitrust Watchdog Raided in Expanding Probe Into Former First Lady

By  |  August 11, 2025
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South Korea’s special counsel investigating corruption allegations involving former first lady Kim Keon Hee has widened its inquiry, carrying out a search of the Korea Fair Trade Commission (KFTC) headquarters in Sejong on Monday.

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    According to a statement from officials, the raid was led by special counsel Min Joong-ki’s team and targeted KFTC offices roughly 110 kilometers south of the capital. The search is part of a broader investigation into claims that Kim Ye-seong — a figure described as the former first lady’s “butler” — secured illegal investments from several companies for IMS Mobility, a business he co-founded in 2023.

    Per a statement from the special counsel’s office, IMS Mobility was in severe financial distress when the investments were made. Prosecutors suspect the funding may have been motivated by the firm’s alleged ties to Kim Keon Hee and Kim Ye-seong. Some of the investors, including Kakao Mobility, were reportedly under KFTC investigation at the time.

    Records show that Kakao Mobility was fined more than 20 billion won (about $14.4 million) by the KFTC for suspected manipulation of its taxi service’s vehicle allocation algorithm just months before backing IMS Mobility. Investigators are examining whether there is any connection between these investments and regulatory actions taken against the companies.

    The same day, the special counsel’s team also searched Seohee Construction in a separate bribery investigation tied to the former first lady. Authorities are looking into claims that the company may have provided her with a luxury Van Cleef & Arpels necklace in exchange for assistance in securing a government position.

    Prosecutors have already obtained purchase records for the necklace from a Van Cleef & Arpels boutique, showing it was bought by an associate of Seohee Construction’s chairman shortly after former President Yoon Suk Yeol, Kim’s husband, was elected in March 2022. The chairman’s son-in-law was later appointed as chief of staff to the prime minister in June of that year, just before Kim wore the necklace during an overseas trip.

    The necklace was not included in Kim’s legally mandated asset disclosure, according to investigators, and remains a key focus of the inquiry.

    Source: Korea Times