AnalysisVan Cleef, Chanel, Graff, Vacheron: luxury gifts land ex-first lady in jail

In 2022, during a Korean community dinner in Madrid, former first lady Kim Keon Hee wore a Van Cleef & Arpels necklace valued at over 60 million won ($43,300) that was absent from her official asset disclosure. Yonhap

How many luxury items does it take to put a former first lady of Korea behind bars for the first time? Try a Van Cleef & Arpels necklace, a Chanel bag, a Graff necklace and a Vacheron Constantin watch.

The Seoul Central District Court issued an arrest warrant Tuesday for Kim Keon Hee, wife of former President Yoon Suk Yeol, on charges including violations of the Capital Markets Act and the Political Funds Act.

With Yoon, who was released earlier this year after his January arrest, being taken back into custody last month, it marked the first time in Korean history that a former president and spouse had both been jailed at the same time.

A key factor in Kim’s arrest was the allegation that she accepted multiple high-value luxury gifts in exchange for special favors.

Here's what to know.

Former President Yoon Suk Yeol and former first lady Kim Keon Hee salute the national flag during a dinner meeting with Korean residents in Madrid, Spain, June 29, 2022. Kim is wearing the Van Cleef & Arpels necklace at the center of the controversy. Yonhap

Van Cleef & Arpels necklace

In 2022, during a Korean community dinner in Madrid, where she accompanied the former president on his NATO-related travels, Kim wore a Van Cleef & Arpels necklace valued at over 60 million won ($43,300) that was absent from her official asset disclosure. At the time, the presidential office said it had been “borrowed from an acquaintance.”

However, in May, Kim submitted a written statement to prosecutors claiming it was a replica and therefore not subject to disclosure under the public official asset reporting rules.

That alibi unraveled this month when Seohee Construction Chairman Lee Bong-kwan confessed to giving her the necklace in exchange for helping his son-in-law find a job in the Yoon administration.

Last month, the special counsel found a replica of the same model at the home of Kim’s elder brother’s mother-in-law. Prosecutors later brought both the genuine necklace — recovered from Seohee Construction — and the replica into court, using the contrast to challenge Kim’s account. They argued that the presence of the fake suggested a deliberate attempt to mislead investigators, a charge her defense has so far been unable to disprove.

Chanel bag and Graff necklace

Kim is also accused of receiving a Graff necklace and Chanel handbags from the Unification Church and leveraging her influence on matters tied to the controversial church. Prosecutors reportedly described it in the arrest warrant request as “a grave breach of the constitutional separation of church and state.”

They allege that in 2022, the Unification Church sought policy favors by offering support to then-presidential candidate Yoon. After Yoon’s victory, the church allegedly sent the luxury goods to Kim via a shaman, in return for her help on multiple requests — including securing government support for the church’s preferred official development assistance projects, which are state-backed aid programs for developing countries.

Vacheron Constantin

Investigators also found a Vacheron Constantin watch box and an authenticity certificate during a search last month. The special counsel suspects the watch came from a businessman surnamed Seo, a major donor to Yoon, whose robotics firm later won a contract with the Presidential Security Service to provide a robot dog for patrol and surveillance. They are examining possible links between the gift and that deal.

Seo reportedly told prosecutors he met Kim in 2022 and bought her the watch after she expressed interest, claiming he could get it at a discount as a VIP and that she reimbursed him in cash.

The day after Kim’s arrest, the special counsel pressed ahead with its probe. On Wednesday, prosecutors visited the main opposition People Power Party’s headquarters to search for evidence related to allegations that Unification Church members joined the party en masse in 2023 to back Rep. Kweon Seong-dong — a Yoon ally — in his bid for party leader. They also searched an interior design company suspected of landing a 2022 contract to expand the presidential residence through its ties to Kim.