The Late Lee Gwan-sul, Key Figure in the Joseon Jeongpansa Counterfeit Banknotes Incident, Acquitted After 79 Years in Retrial

[Financial News] The late independence activist Lee Gwan-sul, who was executed after being accused as the main perpetrator of the Joseon Jeongpansa Counterfeit Banknotes Incident, has been acquitted in a retrial 79 years later.
On the 22nd, the Seoul Central District Court’s Criminal Agreement Division 21, presided over by Judge Hyunbok Lee, delivered a not guilty verdict in the retrial of Mr. Lee, who had been charged with currency counterfeiting and related offenses.
Lee Gwan-sul was a prominent independence activist who endured multiple imprisonments and torture during the Japanese colonial era in the 1930s and 1940s due to his anti-Japanese activities. He was identified as the main figure in the Joseon Jeongpansa Counterfeit Banknotes Incident and sentenced to life imprisonment in 1946, later being executed in 1950. The incident centered on allegations that, from 1945 to the following year, Lee and others produced a total of 12 million won in counterfeit banknotes—six batches of 2 million won each—at the Joseon Jeongpansa facility in the Geuntaek Building in Sogong-dong, Seoul, to fund the activities of the Communist Party of Korea.
Before delivering the verdict, the court expressed gratitude to both the bereaved family and the prosecution. The court stated, "It must have been a difficult and arduous journey, and we extend our respect and sincere thanks to the petitioner and legal counsel for their efforts in bringing this case to a verdict after a substantive hearing. We also thank the prosecution for their cooperation from a neutral standpoint."
The court dismissed all evidence used to convict Lee, ruling that it had been unlawfully obtained. The court explained that Lee consistently denied the charges from the investigation stage through his court testimony, and that the statements of co-defendants were inadmissible as evidence because they were collected through illegal detention and other abuses by judicial police officers.
The court stated, "The provisions on personal restraint, as established by the Constitution of the Republic of Korea and the Criminal Procedure Act, are applicable to this case as well. It is clear that the statements of co-defendants were obtained through illegal detention and abuse of authority by the investigating judicial police officers, making them unlawfully collected evidence. The existence and contents of the original verdict, which relied on evidence lacking admissibility or value, are insufficient to find the defendant guilty. Therefore, the court had no choice but to render a not guilty verdict."
Upon the announcement of the acquittal, cheers and applause erupted from the spectators in the courtroom.
After the verdict, his granddaughter, Ms. Son, said, "I am grateful that, after nearly 80 years, a not guilty verdict has been delivered in the Republic of Korea." She added, "This case was the first instance in which the United States Army Military Government in Korea (USAMGIK) suppressed the people to maintain its political position. I hope this ruling will serve as an opportunity to erase all such traces from history."
Ms. Son filed for a retrial in July 2023, and the court granted the retrial in October. During the proceedings, Lee’s legal counsel denied all charges, arguing, "This case was fabricated through the illegal long-term detention, torture, and harsh treatment of the defendant and co-defendants." The prosecution also requested an acquittal.
theknight@fnnews.com Jung Kyung-soo Reporter