Lawmaker Yang Moon-seok Loses Seat After Suspended Prison Sentence at Supreme Court of Korea, Says He May Seek Constitutional Complaint

[The Financial News] Yang Moon-seok, a Member of the National Assembly from the Democratic Party of Korea who was indicted on charges including loan fraud and violations of the Public Official Election Act, has received a final suspended prison sentence from the Supreme Court of Korea that results in the loss of his parliamentary seat. Immediately after the ruling, Yang indicated that he is considering filing a constitutional complaint.
On the 12th, the Third Division of the Supreme Court of Korea, presided over by Justice Lee Heung-gu of the Supreme Court of Korea, upheld the lower court ruling that sentenced Yang to one year and six months in prison, suspended for three years, for fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. However, it overturned the lower court’s decision that had fined him 1.5 million won for violating the Public Official Election Act and remanded that part of the case to the high court.
Yang and his wife, identified only by her surname Seo, were indicted in September 2024 on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. They were accused of obtaining an 1.1 billion won business operating loan from a Saemaul Geumgo community credit cooperative in 2021 by falsely claiming it was for their college-age son’s business, then using the money instead to purchase an apartment. Ahead of the 22nd general election, in March 2024, Yang was also put on trial for allegedly violating the Public Official Election Act by posting a false explanation claiming he had never deceived the Saemaul Geumgo about the loan, and by underreporting the value of the apartment below the actual transaction price when registering as a candidate and making that information public.
The Supreme Court of Korea finalized the conviction on the fraud charge, while only the Public Official Election Act violation was overturned and sent back to the lower court. Under Korean law, a Member of the National Assembly loses his or her seat once a sentence of imprisonment or heavier in an ordinary criminal case becomes final.
Right after the Supreme Court’s decision, Yang stated, "If there are aspects of the ruling that overlook my basic rights, I will file a constitutional complaint."

hwlee@fnnews.com Lee Hwan-joo Reporter