A special counsel team raided the nation’s antitrust regulator Monday as part of its widening probe into corruption allegations involving former first lady Kim Keon Hee. The team led by special counsel Min Joong-ki searched the offices of the Fair Trade Commission (FTC) in Sejong, some 110 kilometers south of Seoul, officials said. The case centers on allegations that Kim Ye-seong, known as the former first lady’s “butler,” reportedly received illegal investments from several companies, including Kakao Mobility, for IMS Mobility, a company he helped establish, in 2023. Considering that IMS Mobility was effectively in a state of capital impairment at the time of the investments, special prosecutors suspect that the companies invested in IMS Mobility in consideration of its connection to Kim and the former first lady. Some of the investors, including Kakao Mobility, were also being investigated by the FTC around the time of the investments. Kakao Mobility was fined more than 20 billion won ($14.4 million) on suspicion of manipulating its vehicle allocation algorithm for its taxi service, ju
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