South Korea indicts another ex-President

Investing.com -- Former president of South Korea, Moon Jae-in, has been indicted on bribery charges, according to the Wall Street Journal. This event marks a significant turn for Moon, who had maintained a scandal-free reputation during his tenure. Moon, 72, is a left-leaning politician who had prioritized engagement with North Korea.

Moon’s predecessor, Park Geun-hye, faced impeachment and removal from office due to an influence-peddling scandal. Yoon Suk Yeol, who succeeded Moon, was also removed from office earlier this month following his brief declaration of martial law in December. Yoon is currently on trial for criminal charges related to leading an insurrection.

This recent development involving Moon means that all South Korean leaders elected this century have faced legal troubles or committed suicide after leaving office. The other two leaders elected since 2002 have either been imprisoned for corruption or have taken their own lives while under investigation for bribery.

These legal issues underscore the intense and retaliatory nature of South Korean politics. The country is gearing up for a snap election on June 3 to select Yoon’s replacement. This election comes at a critical time as South Korea navigates tariff discussions with Washington, increasing hostility from Pyongyang, and significant political divisions domestically.

Lee Jae-myung, the leader of the opposition party and a member of the same party as Moon, is currently the frontrunner for the upcoming election. Last year, Lee survived a severe knife attack reportedly carried out by an individual who was afraid Lee might become president. After his recovery, Lee urged for an end to the confrontational nature of South Korean politics.

Moon has dismissed his indictment as "absurd and outrageous," viewing it as a retaliatory action following the impeachment of former President Yoon. Prosecutors allege that Moon received a bribe of approximately $150,000 between 2018 and 2020.

The funds were allegedly paid as salary and housing assistance to Moon’s then-son-in-law, an executive at an airline owned by a former Moon presidential campaign official. Prosecutors argue that Moon benefited financially from this arrangement as he did not have to provide financial support to his daughter and her then-husband.

Prosecutors have noted that Moon’s former son-in-law, who divorced Moon’s daughter in 2021, had no experience in the aviation industry and lacked the necessary qualifications. The airline, Thai Eastar Jet, ceased operations in 2022. Moon, who has denied any wrongdoing, has not been detained by prosecutors, and a trial date has not yet been set.

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