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Close associate of ex-first lady indicted over lobbying allegations

Published: 22 Aug. 2025, 19:00

Lee Jong-ho, former head of Blackpearl Invest, appears for a hearing on his potential arrest at the Seoul Central District Court in Seocho District, southern Seoul, on Aug. 5. [NEWS1]

A special counsel team said Friday it has indicted under detention a close associate of former first lady Kim Keon Hee over lobbying allegations in connection with a stock manipulation scheme.

Lee Jong-ho was placed under arrest earlier this month on charges of receiving more than 80 million won ($57,400) from June 2022 to February 2023 in exchange for helping another individual involved in the scheme get a reduced sentence.

Special counsel Min Joong-ki's team said in a briefing that it indicted Lee on charges of violating the Attorney-at-Law Act.

Min's team has been investigating the stock manipulation case involving Deutsch Motors, a BMW dealer in Korea, as part of its probe into the former first lady.

Lee, former head of investment firm Blackpearl Invest, handled Kim's stock accounts allegedly used in the manipulation scheme, which took place between 2009 and 2012.

Lee appeared before Min's team on Wednesday to be questioned about the stock manipulation case. The team is expected to question him again about other allegations surrounding Kim, including alleged stock manipulation targeting Sambu Construction.

Yonhap