Last month, Kim Keon-hee, wife of South Korea’s impeached and jailed former president Yoon Suk-yeol, was arrested on charges of bribery, stock manipulation, and election interference. On Thursday, the special prosecutor leading the case said a painting by Lee Ufan is now at the center of the inquiry.
Kim’s arrest in August followed an investigation launched by newly elected president Lee Jae-myung after his inauguration in June. It is one of three probes targeting Yoon, the conservative former president ousted from office in April after attempting to impose martial law last December.
Prosecutors allege that former prosecutor Kim Sang-min purchased Lee’s From Point No. 800298 in 2023 for around 100 million won (about $75,000) on behalf of Kim Keon-hee’s brother, Kim Jin-woo. The painting was allegedly handed over to the former first lady’s circle.
The investigation is examining whether that transaction was connected to political favors, including Kim Sang-min’s bid for a ruling-party nomination in the 2024 general elections and his later appointment as a legal adviser to the National Intelligence Service.
Kim Sang-min has denied receiving any favors, saying he acted only as an intermediary at Jin-woo’s request. “I was asked to buy the painting under a hidden identity because if it leaked that the Kim Keon-hee–Kim Jin-woo family was buying the painting, its price could increase by at least two to three times,” he told the Korean Broadcasting System.
The painting was discovered at Jin-woo’s mother-in-law’s home alongside what investigators described as a counterfeit “state visit necklace,” according to KBS.
Adding to the controversy, Chosun Ilbo, South Korea’s newspaper of record, reported this week that two Korean art appraisers reached conflicting conclusions about the painting’s authenticity.
In response, Kim Sang-min said it was “an embarrassing situation” and apologized. “At the time of purchase, the brokerage firm guaranteed their credibility to the extent that they would go bankrupt if it turned out to be a forgery. I apologize for the current revelation that it may be a forgery,” he added.
The investigation is still ongoing.
