News

Democratic Party Launches Investigations into Former President Yoon and Wife

Daniel Mitchum

South Korea’s new liberal government has initiated a series of special counsel investigations targeting former President Yoon Suk Yeol and his wife, Kim Keon‑Hee. These probes coincide with allegations involving martial law, corruption, and a potential cover‑up of a marine’s death. Under legislation passed overwhelmingly by the majority Democratic Party (DP) National Assembly, a special counsel team potentially comprising over 570 investigators will lead the probe into the allegations. Opposition lawmakers have decried provisions of the bills that would allow investigators to broaden their probes into related cases discovered during the search, claiming that it could be used for politically motivated prosecutions.

Former First Lady Kim is facing separate but serious corruption allegations. Accusations include accepting luxury gifts, including a high‑value handbag and jewelry, from a Unification Church leader in return for political favors and influence over media licensing. Reports further suggest that she may have played a role in stock manipulation and exerted undue influence on candidate nominations in the 2022 legislative elections. As special prosecutor Kim Jun-ki began forming his team to investigate Kim’s alleged misconduct, the former First Lady was hospitalized for treatment of a chronic illness but was reportedly not in critical condition.

A third special counsel panel has been assigned to revisit the death of Marine Corporal Chae Su‑geun in July 2023. The probe centers on allegations that Yoon’s office obstructed the initial inquiry and failed to provide essential safety equipment like life jackets to marines during flood rescue operations. At the time, Former President Yoon did not address these allegations, but vetoed a bill passed by the DP in Parliament, which called for a special prosecutor to investigate the claim. 

The legislative push to establish the special counsel teams passed with 194 votes in favor, largely without participation from Yoon’s conservative People Power Party (PPP). Independent counsels will spend 20 days preparing their investigations, which may continue for up to 170 days. Former President Yoon attended his 7th hearing of his insurrection trial since the investigations were announced, yet did not comment on them.

President Lee Jae Myung: A First Look at the South Korean President’s Diplomatic Endeavors

Venesia Delancy

President Lee’s entrance into the Blue House could mark a shift in South Korean domestic and diplomatic politics as the new leader strives to take on the country’s growing challenges. His decisive victory over the conservative People Power’s Party on June 3rd was supported by a 79.4% turnout rate, the highest since 1997. Surges in public interest towards reform have been palpable as more than 74,000 recommendations for  “pro-reform” cabinet members were submitted to the administration by the public last week, highlighting the country’s desire for change and long-term stability. Affirming his commitment to this change, President Lee promised to be the president of grand national unity, not a “half-president.”

The President’s strides towards reform have been tangible in his recent diplomatic endeavors. Six days after his inauguration, Lee discussed North Korean denuclearization with Chinese President Xi Jinping during a 30 minute phone call, urging the leader to play a more “constructive role” in securing peninsular peace and stability. While Xi responded in favor of stability in the region, a Chinese foreign ministry statement did not explicitly highlight this remark, drawing concerns that China’s steadfast posturing between the two states will be a significant hurdle for the South Korean president to overcome. Lee’s commitment to reform has also been tangible in his reported goals for the G7 Summit; National Security Adviser Wi Sung-lac affirmed the president‘s interest in connecting with ally countries to stabilize the South Korean economy, noting that "engaging with the leaders of the United States and Japan” would allow the administration to resolve “pending economic and trade issues.” Additionally, the presidential office reported that Lee “plans to hold meetings with leaders of key countries before and after attending the extended session of the G7 summit”, signaling the leader’s commitment to demonstrating his diplomatic prowess and potentially strengthening relations with countries such as Ukraine, a strategic point of interest as Russia and North Korea continue to strengthen their ties. 

While the G7 Summit will provide Lee with the opportunity to demonstrate his leadership on the global stage, his administration has begun shifting domestic policy to reflect the leader’s campaign promises. One of those promises included the distribution of cash payments to support national consumption; the government is currently preparing to direct cash payments of up to 400,00 won (approximately $290) per person in an effort to boost domestic consumption and lighten financial burdens incited by rising tariffs and a dwindling job market. Outside of economic reforms, President Lee has also demonstrated his commitment to communicating directly with South Korean civilians through a daily briefing on his social media platforms; the leader expressed that reporting on administrative activities was part of his duty “to the people who entrusted” him with the office. This unprecedented level of direct communication between the administration and the public marks a positive shift in South Korean domestic politics as previous administrations and their lack of transparency spurred public distrust in political leaders. With these reforms, the Lee administration may be the stabilizing force South Korea has been needing.

BTS Members Return From the Military Amid HYBE’s Corporate Scandal

Mikayla Basanese

As BTS, the internationally renowned K-pop group, prepares to reunite following the completion of their military service, the company behind their rise is facing its deepest crisis yet. South Korea’s Financial Supervisory Service (FSS) is currently investigating HYBE Chairman Bang Si-hyuk for alleged insider trading and violations of the Capital Markets Act. The probe focuses on Bang's potential unlawful profit of over KRW 400 billion during HYBE’s IPO process. If proven guilty, Bang could face severe penalties, including prison sentences ranging from five years to life imprisonment, due to the large-scale illegal gains involved.

It remains to be seen whether this crisis will affect BTS’s upcoming plans or if their reunion will shift attention away from the challenges currently facing HYBE. RM (Kim Namjoon) and V (Kim Taehyung) completed their military services on June 10, followed closely by Jimin (Park Jimin) and Jungkook (Jeon Jungkook) the next day. Suga (Min Yoongi), currently serving as a public service worker, is the final member set to complete his duty on June 21. BTS members Jin (Kim Seokjin) and J-Hope (Jung Hoseok) completed their military service in 2023. 

With all seven members soon available for group activities, HYBE has hinted that a full-scale comeback is in the works. At a March shareholders' meeting, HYBE CEO Lee Jae-sang said the company is coordinating with top-tier songwriters and producers, noting that the members would need time to regroup creatively. Even still, the group’s return has already sparked investor optimism, as evident not only in media anticipation but also in HYBE’s stock rebound. On May 29, HYBE shares dropped by 2.51% amid the scandal involving the HYBE Chairman, closing at KRW 272,000 (USD 198), despite the broader KOSPI index rising. But when RM and V were discharged on June 10, investor confidence appeared to return. HYBE stock jumped 2.32% from the previous day, closing at KRW 309,000 (USD 226), its highest point since April 2022. This volatility highlights the fragile balance between market sentiment tied to celebrity capital and long-term institutional trust.

BTS is not just a global music act; they are arguably South Korea’s most influential cultural export. Analysts estimate that the group contributes up to USD 5 billion annually to the national economy, which is nearly half a percent of the country’s GDP. Their global influence spans tourism, cosmetics, language education, and consumer brands. HYBE has built on this success by expanding globally with region-specific groups like KATSEYE and launching HYBE China in anticipation of improved Korea-China cultural relations. These efforts align with South Korea’s broader use of the Hallyu wave as a tool of economic diplomacy and soft power strategy.

The increasing global presence of Korea’s cultural industry, however, complicates domestic regulatory decisions. Political dynamics are evolving, with some parties emphasizing the importance of shielding the cultural economy from disruptions, while others advocate for transparency and equal enforcement across all sectors. Legislative reviews or audits may provide insight into how the government will balance economic interests with regulatory accountability in high-profile industries.

These tensions are especially apparent in the ongoing HYBE investigation. While the FSS’s swift response may reflect efforts to uphold regulatory credibility, questions remain about the consistency of enforcement across sectors. Despite the presence of anti-corruption frameworks, such as the Corruption Investigation Office (CIO) and the Kim Young-ran Act, firms with significant international visibility often face limited regulatory scrutiny.

BTS’s return marks a significant cultural moment. However, it coincides with growing recognition that cultural industries operate within broader political and regulatory frameworks. As South Korea continues to promote its soft power, the HYBE case underscores the complexities of balancing cultural diplomacy with corporate oversight.

This Week in Korean History

On June 17th, 2005, South Korea's Unification Minister Chung Dong-young visited North Korea, meeting Kim Jong Il in Pyongyang. This visit marked the 5th anniversary of the North–South Joint Declaration, which was signed on June 15th, 2000. This declaration marked a high point in North-South relations as both nations pledged to increase dialogue and cooperation.