Kim Keon-hee appearing in court [Yonhap News file photo]

The Supreme Court is set to begin its substantive review of the case involving First Lady Kim Keon-hee, who is accused of stock manipulation related to Deutsch Motors and receiving bribes from the Unification Church, as the appellate court has been decided.

On the 26th, the Supreme Court assigned the case, which includes charges of violating the Capital Markets Act, the Political Funds Act, and bribery through intermediation under the Act on the Aggravated Punishment of Specific Crimes, to the Second Division, composed of Justices Oh Kyung-mi, Kwon Young-joon, Uhm Sang-pil, and Park Young-jae.

Presiding Justice Park Young-jae (22nd class of the Judicial Research and Training Institute) will handle the case.

The First Lady is accused of receiving approximately 62 million won worth of Graff diamond necklaces and two Chanel bags worth a total of 20 million won from Yoon Young-ho, former head of the Unification Church's World Headquarters, between April and July 2022, in exchange for the church's support.

The special prosecutor's team led by Min Jung-ki believes these items were delivered to Kim through a figure named Jeon Sung-bae, also known as Geonjin Beopsa.

Kim is also accused of participating in Deutsch Motors' stock manipulation from October 2010 to December 2012, allegedly profiting over 810 million won, and conspiring with former President Yoon Suk-yeol to receive opinion poll results worth approximately 270 million won from Mr. Myung Tae-kyun between June 2021 and March 2022.

On the 28th of last month, the appellate court sentenced Kim to four years in prison and a fine of 50 million won. The court also ordered the confiscation of one Graff necklace worth approximately 62.2 million won and the collection of 20.94 million won.

While the appellate court's sentence is more than double the first instance (1 year and 8 months in prison), it fell significantly short of the special prosecutor's request for 15 years.

The appellate court overturned the first instance's acquittal on the charge of violating the Capital Markets Act, finding her partially guilty.

Specifically, the court ruled that Kim's act of providing a securities account with 2 billion won to Black Pearl Investment and entrusting them with Deutsch Motors stock trading between October and November 2010, and selling 180,000 shares of Deutsch Motors during that period, constituted participation in market manipulation.

The charge of bribery through intermediation, which was partially found guilty in the first instance, was deemed entirely guilty in the appellate court.

The appellate court found Kim guilty of receiving two Chanel bags, a Graff necklace, and Cheonsam concentrated tea from the Unification Church between April and July 2022, in exchange for the church's support.

However, similar to the first instance, the appellate court acquitted Kim of violating the Political Funds Act, which alleged that she and her husband received free opinion poll services from Mr. Myung Tae-kyun in exchange for the nomination of former People Power Party lawmaker Kim Young-sun.

Both the Min Jung-ki special prosecutor's team and Kim's defense team have appealed the appellate court's ruling, leading to the first Supreme Court hearing for Kim, who faces trial on various allegations.