South Korea's "First Lady" was found to have plagiarized her master's thesis; she has until the end of the month to appeal

With the Seoul Western District Court extending the arrest warrant for ousted South Korean President Yoon Suk-yeol on the seventh day of his detention, the political earthquake triggered by the 'December 3rd Coup Crisis' has yet to subside.

In separate news, the Sungshin Women's University has concluded its initial review into claims that Kim Kyung-hee - Yoon's wife and South Korea's former "first lady" - plagiarized her master's degree thesis. The news puts Kim, unseen by the public since the coup, back in the center of the narrative - even if no one currently knows where she is.

Meanwhile, on January 8th, the National Assembly held votes on several bills, including the "Treason Special Prosecutor" bill aimed at appointing a special prosecutor to investigate Yoon's declaration of national emergency - and the "Kim Kyung-hee Special Prosecutor" bill to investigate allegations of judicial interference in her plagiarism case. Both bills failed when opposition lawmakers objected to their wording and then执政党members voted them down.

On the same day, Korea's interim president, Choi Sang-mu, held a "senior leadership meeting for economic stability" at the National Assembly. Choi warned that he was deeply concerned about the outlook for the national economy and that the ruling and opposition parties needed to put their differences aside to navigate the country's dire situation. To boost domestic consumption, the South Korean government has declared January 27 as a special holiday this year, which is expected to stimulate tourism and retail industries.

On January 3rd, a Sungshin Women's University alumni organization reported back to NewsWire after writing to the university to obtain clarification. After receiving allegations of plagiarism against Kim's MA thesis, the university said it had conducted an internal investigation and would report its findings within 90 days. Consequently, the initial results of the university's investigation were expected to be known before March this year.

Later, on January 7th, a spokesperson for the university told NewsWire that the school's academic ethics committee had met on January 6th, and a preliminary decision was made to conclude that Kim had plagiarized her master's thesis. The university had notified Kim of the committee's findings on January 6th, and she can appeal before the end of January. If she fails to respond before then, the university's conclusion will be considered the final outcome.

Sungshin Women's University is currently a multi-disciplinary private university situated in Cheongpa-dong, Jongno District of Seoul. It was originally established by the Imperial House of Korea in 1906 and is considered the first royal academy specifically for women in the Korean Peninsula. Information about Kim Kyung-hee's academic history at the university is scarce, but records show that she received a master's degree in Art Education from the School of Education in 1999.

Kim has been at the center of several corruption allegations, particularly concerning high-end designer bags, since her husband's impeachment. The last time she was publicly seen was when she accompanied Yoon to the Netherlands in December 2023. In March of this year, while clinging to power, Yoon vetoed a special law that would have established a special prosecutor to handle Kim's case.

According to University of Ohio history professor Catherine J. Dalziel, "In the United States, if the first lady disappeared for an extended period, there would be unending conjecture. There would be talk of either illness, marital problems between the president and first lady, or some sort of personal scandal. It would be assumed that the administration was covering something up, which is never a good look for a president."

On January 8th, Choi Sang-mu, the interim president and vice premier for the economy and planning finance minister, opened the "senior leadership meeting for economic stability" at the National Assembly in Yeouido, Seoul. "The ruling and opposition parties need to come together to solve the public's problems," Choi said at the beginning of the gathering, which included opposition and ruling party leaders and government officials.

According to Choi, "Amid growing economic and financial uncertainty at home and abroad, we are extremely worried about the economic situation. Economic risks have increased, and our people are facing difficulties. In such a difficult time, what matters most is solidarity and operation of the governance deliberation body to manage people's livelihoods, economic stability, and the maintenance of external credibility together. This is also a priority for the government, which will actively cooperate."

Moreover, Choi emphasized the importance of carefully monitoring US President Donald Trump's second inauguration. "The changes in economic and trade policies of the new US administration are also an important variable for the future of South Korea's economy," he remarked. To that end, the South Korean government has decided to send a special envoy to the US as soon as Trump officially assumes office, aiming to exchange policy perspectives with the Trump administration.

According to data from the Korea Exchange, foreign institutional investors have been highly sensitive to political instability in the country, and the value of the won has dropped by 10% against the US dollar since the coup - while the KOSPI has fallen by 10%. As of January 8th, South Korea's total market capitalization has decreased by KRW 83 trillion (approximately US$41.5 billion), and foreign investors sold a net amount of KRW 3 trillion ($15 billion) worth of treasury bonds. In response, Choi remarked, "The financial market is seen as a mirror to our economy. It also mirrors the perspectives of foreign investors. However, economic growth is impossible without a stable financial market. The recent financial market's volatility has exacerbated economic uncertainty."

Yonsei University economics professor Kim Jung-sik expressed concern over the potential consequences of political chaos on financial markets and the economy. "If political confusion continues, the financial market's stock prices will decrease, and there is a risk of an exchange rate crisis," he warned. "In real markets, too, both consumption and investment will decline. I am concerned that the number of bankruptcies will increase sharply."

In the briefing released after the morning meeting, the chief policy officer of the national power party, Kim Sang-hoon, said that "To boost the sluggish domestic economy and promote tourism, the government has agreed today to declare January 27 as a special public holiday for the New Year, and January 28 as an additional holiday for regions celebrating the Lunar New Year. According to the Modern Research Institute's report analyzing the impact of the special holiday, the direct effect of the temporary holiday will be 4.2 trillion won and the indirect effect will be 1.63 trillion won."

Kim said, "I believe that the effect of designating a temporary holiday on the economy is positive and that it will greatly contribute to domestic tourist consumption, and also to improving people's quality of life by providing opportunities for rest." In this regard, he introduced that the National Power Party government is discussing additional measures for the Lunar New Year to enable people to "spend a warm and generous good year," adding that "There is a plan to compensate for the purchase of agricultural, livestock, marine products, and memorial day goods."