Prosecutor Reshuffle: Virtual Assets Investigation Division Reorganized into Serious Crimes Prosecution Division

On October 2, ahead of the launch of the Public Prosecution Service, the Ministry of Justice conducted a reshuffle of prosecutors. The joint investigation division, which was responsible for crimes related to virtual assets, will be reorganized into the Serious Crimes Prosecution Division. The Ministry of Justice announced on the 29th that it will implement new appointments and transfers for two prosecutors at the Public Prosecution Service effective October 2. Since existing prosecutors are considered prosecutors of the Public Prosecution Service, no separate personnel appointment is necessary when only the name of the affiliated office changes without a change in the organizational structure. The head of the joint investigation division for virtual asset crimes at the Southern District Prosecutor's Office will be renamed as the head of the Serious Crimes Prosecution Division at the Southern District Public Prosecution Service, with the existing chief prosecutor Kim Yong-je remaining in position. The joint investigation division, which was responsible for manipulating digital asset prices, will be reorganized according to the policy of separating investigation and prosecution, with the Serious Crimes Investigation Agency handling investigations and the Public Prosecution Service handling prosecutions. The previous proposal from the Ministry of the Interior and Safety suggested that the Serious Crimes Division of the Southern District Public Prosecution Service would handle digital asset and financial cases, but it was changed to the Serious Crimes Prosecution Division due to concerns that it implied investigative functions. The Ministry of Justice stated that it minimized the scale of personnel changes to ensure uninterrupted operations and organizational stability at the initial launch.

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