South Korean prosecutors stormed the headquarters of the opposition People Power Party on Wednesday, escalating a high-stakes investigation into alleged election interference by former first lady Kim Keon-hee. The raid followed Kim's arrest Tuesday on charges of stock manipulation, corruption, and violating political funds laws—marking the first time in the nation's history that both a former president and first lady are simultaneously imprisoned.
Kim, 52, was detained after Seoul Central District Court approved an arrest warrant citing risks of evidence tampering. Prosecutors submitted an 848-page document detailing her alleged financial crimes and involvement in meddling during April's parliamentary elections. The probe has intensified political tensions, with opposition leader Song Eon-seog condemning the raid as 'gangster behavior' and accusing the Lee Jae-myung administration of 'political persecution.'
The case traces back to December's constitutional crisis when then-President Yoon Suk-yeol attempted to declare martial law, a move swiftly rejected by parliament. Yoon's subsequent impeachment and June's snap election brought current President Lee to power. Analysts note the unfolding scandal underscores South Korea's ongoing struggle with political accountability, coming just seven years after former President Park Geun-hye's impeachment in another corruption case.
As prosecutors comb through digital records and financial documents seized from the party office, market watchers are monitoring potential impacts on South Korea's regulatory environment. The Seoul Composite Index remained stable Thursday, though some analysts warn prolonged political instability could affect investor confidence in Asia's fourth-largest economy.
