Park Hyekyung "I think it's genius how it grows by 3 to 4 million won... I'm also a victim"

Clarified Receiving Company Introduction Through Acquaintance
"Thought He Was a Genius Seeing Money Grow"
"It's Not True That Im Chang-jung Recommended It"

Singer Park Hye-kyung has been confirmed as a celebrity who entrusted money to a stock manipulation operation along with Lim Chang-jung. Park Hye-kyung claimed that she suffered losses after investing about 140 million won on behalf of the group and insisted that she is also a victim.

On the 28th, Park Hye-kyung explained the background of her investment in the operation group through her social networking service (SNS).

Park Hye-kyung stated, "I was introduced to a problematic company (Channel Sum) through a close older sister. The company’s CEO said that since he is his nephew-in-law, if anything happens, my sister can handle it, so it seemed like a good place. They also said it was a financially sound company."

On the 28th, Park Hye-kyung explained the background of her investment in the operation forces through her social networking service (SNS).
[Photo by Park Hye-kyung Instagram]

She continued, "The company said they would give 100 million won as a contract fee, but it was on the condition of entrusting the money to the company. It was a strange condition, but since I hadn’t had a company for a long time and these days there are no cases of receiving contract fees for exclusive contracts, I thought it would be nice to get it later, and if not, it couldn’t be helped, so I agreed. I needed a protective fence more than money, and I was hungry to sing," she explained.

Park Hye-kyung also said that during this process, she heard news that the company would merge with an entertainment agency owned by Lim Chang-jung, and they quickly finalized the contract after deciding only on the profit-sharing ratio. She confessed that she gained trust by checking her investment returns through a mobile phone created under the company’s instructions.

Park Hye-kyung said, "Seeing the amount increase by 3 to 4 million won, I thought they were geniuses. So I entrusted a little more of the money I earned by working hard. That totaled 40 million won." She added, "Yesterday, when I found out a large amount of money was gone, I asked and was told there had been chaos for two days. There was nothing I could do," she lamented.

Management contract between Park Hye-kyung and Channel Ssum.
[Photo by Park Hye-kyung Instagram]

Regarding the earlier interview with a media outlet where she said she invested in the operation group at Lim Chang-jung’s recommendation, she emphasized, "The broadcast was edited to cause misunderstanding. I even spoke with Chang-jung early in the morning, and he said, 'I never gave such an interview,' and hung up. I met Chang-jung regarding an exclusive contract, and it has nothing to do with the investment."

She said, "It was my fault and unwise that I was ignorant, trusted people easily, signed an exclusive contract with a company that presented strange conditions, and spoke with a reporter when I was flustered. Articles came out as if Lim Chang-jung recommended the investment, and I was mentioned as if I were involved in stock manipulation, but I did not meet this company for investment purposes," she pleaded.

Meanwhile, financial authorities and the police have launched a full-scale investigation into the SG (Societe Generale) Securities crash incident involving Lim Chang-jung. The group suspected of being the operation team is accused of raising stock prices of about ten items by attracting funds from professionals, celebrities, and other wealthy individuals through proxy investments.

The stocks in question continued to plummet for three consecutive days amid selling pressure. The Special Judicial Police under the Capital Market Investigation Division of the Financial Services Commission identified ten suspects presumed to be the operation group, and the Seoul Southern District Prosecutors’ Office imposed travel bans on them.