Landmark Acquittal: Mastermind of “Joseonjeongpansa Counterfeit Currency” Case Exonerated Decades Later
Seoul, South Korea – In a historic retrial, a man accused of masterminding a significant counterfeit currency operation during the tumultuous post-World War II era has been acquitted of all charges, 79 years after his initial conviction and subsequent execution. Lee Gwan-sul, who was sentenced to life imprisonment and later executed, was posthumously declared not guilty by the Seoul Central District Court.
The ruling, delivered by Criminal Division 21, presided over by Judge Lee Hyun-bok, marks a profound moment of justice for Lee and his family. “We hope this verdict will bring some comfort to Lee Gwan-sul and his family,” the court stated prior to announcing the decision.
The “Joseonjeongpansa Counterfeit Currency” case, as it became known, centered on allegations that Lee and his associates engaged in printing substantial amounts of counterfeit Korean Won. Between October 1945 and February 1946, it was alleged that Lee and others used the Joseonjeongpansa printing press to produce 12 million won in fake bills on six separate occasions. The stated purpose behind this alleged operation was to fund the activities of the Joseon Communist Party.
Lee was identified as the ringleader of this operation. In 1946, the U.S. Military Government’s Gyeongseong District Court handed down a life sentence. Tragically, while serving his sentence at Daejeon Prison, Lee Gwan-sul was executed in 1950, a fate that cast a long shadow over his legacy for decades.
The journey towards exoneration began in July 2023, when Lee’s granddaughter, Son Ok-hee, formally filed for a retrial. The court’s decision to commence this retrial was made in October of the current year, over two years and three months after the initial filing. The prosecution, in a significant turn of events, sought an acquittal during the final hearing on the 15th of this month, signaling a shift in the legal assessment of the case.
Re-evaluation of Evidence and Due Process
A critical factor in the court’s decision was the re-examination of evidence presented during the original trial. The confessions of co-defendants, which formed a cornerstone of the guilty verdict against Lee, were deemed inadmissible. The court found that these confessions had been obtained under circumstances of illegal detention by the police.
While the comprehensive legal frameworks of the current Constitution and the detailed evidence rules of the Criminal Procedure Act were not yet in place at the time of the original trial, the court emphasized the existing legal norms. “The Chosun Criminal Order limited the detention period of judicial police to 10 days,” the court noted, “and even then, a general legal order requiring adherence to due process under the law was normatively formed.”
Furthermore, the court asserted its jurisdiction to apply contemporary legal standards to past verdicts from the U.S. Military Government era. “We judge that the evidence rules under the Republic of Korea’s Constitution and Criminal Procedure Act can be directly applied to retrials of U.S. Military Government verdicts,” the ruling stated. This principle allowed for a modern interpretation of justice and fairness to be applied to a historical injustice.
A Verdict of Relief and Hope
The announcement of the not-guilty verdict was met with spontaneous applause from those present in the courtroom, a clear indication of the emotional weight of the moment.
Following the ruling, Son Ok-hee expressed her profound gratitude. “I am grateful that South Korea has acquitted him after nearly 80 years,” she stated. Her words conveyed not only personal relief but also a broader sentiment of national reckoning.
Son further elaborated on the historical significance of the case. “This case was the first instance of the U.S. Military Government suppressing the people to protect its political stance,” she claimed. She expressed a hope that this verdict would serve as a catalyst for historical reflection and reconciliation. “I hope this verdict becomes an opportunity to erase all traces of such history,” she concluded, looking towards a future where past injustices are acknowledged and rectified.
The acquittal of Lee Gwan-sul is more than just a legal victory; it is a powerful testament to the enduring pursuit of truth and justice, even across the span of nearly eight decades. It highlights the importance of re-examining historical verdicts through the lens of evolving legal principles and human rights standards.


