Supreme Court to deliver final verdict for golfer Ahn Seong-hyeon

The Supreme Court of Korea will issue a final ruling on November 12 regarding professional golfer Ahn Seong-hyeon, who was acquitted in a second instance trial after previously receiving a four-year and six-month prison sentence for cryptocurrency-related bribery and embezzlement.

The fate of professional golfer Ahn Seong-hyeon, who was indicted on charges of receiving billions of won in bribes regarding requests for cryptocurrency listings, will be decided by the Supreme Court of Korea. After being sentenced to four years and six months in prison and detained in the first instance, he achieved a reversal by being found not guilty in the second instance; however, the prosecution appealed, leading to this final legal judgment. Attention is focused on what conclusion this case, which has garnered public interest due to his status as the husband of Sung Yu-ri, will reach.

The third division of the Supreme Court of Korea will deliver the final verdict on the appeal for the case involving Ahn Seong-hyeon and three others, charged with fraud and other crimes under the Act on the Aggravated Punishment of Specific Economic Crimes, on November 12. This ruling serves as the final watershed for a case where the first and second instances reached conflicting decisions regarding allegations of receiving money for cryptocurrency exchange listing requests and Ahn's alleged embezzlement of 2 billion won.

Previously, the 13th Criminal Division of the Seoul High Court overturned the first instance ruling that had sentenced Ahn Seong-hyeon to four years and six months in prison, instead declaring him not guilty. In December 2024, the 11th Criminal Division of the Seoul Southern District Court had found Ahn's charges guilty, sentencing him to prison and ordering the confiscation of two luxury watches determined to have been received during the solicitation process. While Ahn was detained in court at that time, he has since undergone trial without detention after the appellate court granted bail in June 2024.

The first instance court delivered a severe judgment, emphasizing the transparency of virtual asset transactions and market trust. The court pointed out that improper solicitation for listings could undermine market fairness and cause immense damage to investors. The weight of the prison sentence was significant in that it served as a warning against actions that destroy trust in the cryptocurrency market.

The core of the case dates back to 2021. Ahn Seong-hyeon and former Bithumb Holdings CEO Lee Sang-jun were accused of receiving 3 billion won in cash, two luxury watches, and high-end restaurant membership cards from businessman Kang Jong-hyeon following a request to list two so-called "Kimchi coins" on Bithumb. Separately, Ahn was accused of embezzling 2 billion won by telling Kang Jong-hyeon that former CEO Lee Sang-jun was pressing for the 2 billion won solicitation fee. During the investigation, circumstances were also examined regarding Ahn receiving approximately 44 million won worth of luxury goods, including a luxury bag worth 30 million won and high-end clothing, from Kang Jong-hyeon.

However, the second instance court determined that the testimony of Kang Jong-hyeon, presented as core evidence, was difficult to trust. The court found it difficult to acknowledge that the 5 billion won Kang Jong-hyeon testified to have delivered to Ahn, and the 3 billion won of that amount indicted as being handed to Lee Sang-jun, were indeed compensation for the coin listing solicitation. The court viewed Kang Jong-hyeon's testimony regarding the provision of money as compensation as lacking credibility, and judged that the possibility could not be ruled out that the money Ahn received was delivered in connection with coin investments or other businesses, as per his claims.

The judgment regarding the expensive watches also differed from the first instance. While the first instance viewed the luxury watches, bags, and restaurant membership cards as bribes received during the solicitation process and found him guilty, the second instance ruled that Ahn Seong-hyeon could not be held liable for breach of trust regarding the receipt of the watches. Mentioning the facts that Kang Jong-hyeon purchased two watches and delivered them to Ahn Seong-hyeon and Lee Sang-jun respectively, the court judged that Ahn should be viewed as being involved in the provision of bribes rather than being a recipient of improper solicitation compensation. Accordingly, while pronouncing Ahn Seong-hyeon not guilty, the court ordered the confiscation of one expensive watch related to Lee Sang-jun's crime.

The charge that Ahn Seong-hyeon embezzled 2 billion won from Kang Jong-hyeon was also found not guilty in the second instance. The court noted the circumstances where Ahn Seong-hyeon had handled investment negotiations on behalf of Kang Jong-hyeon several times. It was judged that it was difficult to find a motive for him to embezzle 2 billion won to the risk of having his lies revealed in such a relationship. Rather, the court found the explanation that Ahn Seong-hyeon invested 2 billion won in Big Planet on behalf of Kang Jong-hyeon to be more persuasive.

Following Ahn Seong-hyeon's acquittal in the second instance, Kang Jong-hyeon's sentence also changed. Considering that the amount of bribery decreased due to the not guilty verdict for Ahn Seong-hyeon, the court sentenced Kang Jong-hyeon to one year in prison, suspended for two years. As the first and second instances reached nearly opposite judgments regarding the main counts of indictment and the credibility of evidence, the core of this case is what legal conclusion the Supreme Court of Korea will reach.

Ahn Seong-hyeon debuted as a professional golfer in 2005 and served as a coach for the South Korean national golf reserve team from 2014 to 2018. He married actress Sung Yu-ri, formerly of Fin.K.L, in 2017 and has twin daughters. Sung Yu-ri previously expressed her feelings when the allegations surrounding her husband surfaced, stating, "I pray that the truth about these unfair and difficult matters will be revealed."

The dramatic legal battle, moving from a prison sentence in the first instance to an acquittal in the second, now awaits only the final judgment of the Supreme Court of Korea. Attention is focused on whether Ahn Seong-hyeon's acquittal will be upheld or if there will be a change in the original judgment during the sentencing on November 12.

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