[Field Story] Golf Professionals and Controversies

Chairmen Lee Jung-myung and Kim Jung-tae Under Investigation for Stock and Daejang-dong Involvement
Two Former Pro Golfers Investigated for Coin and Money Laundering
Golf Community Reflects: "Must Uphold Honor and Set an Example"

'Guseolsu (口舌數)'. It refers to the misfortune of becoming the subject of gossip and facing difficulties because of it. When caught in guseolsu, it becomes hard to maintain harmonious interpersonal relationships. One faces social criticism, which narrows their range of activities. This is why one must always act cautiously, no matter when or where.

The domestic golf community is in turmoil. It is due to the actions of the leaders heading the associations. Among them, Lee Joong-myung, the former president of the Korea Golf Association and Ananti Group, is a representative case. He abruptly resigned on the 19th of last month, citing personal reasons. The Korea Golf Association stated, "The president is involved in various social activities besides Ananti Group. After his resignation, he plans to focus on the educational business at Namhae Haeseong High School."

Lee took office as the 19th president of the Korea Golf Association on January 26, 2021. His term was until January 2025. He became president through the first-ever election, differing from the previous method of appointing a prominent figure without an election. Expectations were high as a president with a business mindset was elected. Lee also expressed strong affection for domestic golf. He declared ambitious pledges, saying, "I am a businessman before being the golf association president," and "I will hold tournaments with large prize money."

Lee Jung-myung, President of the Korea Golf Association, abruptly resigned last month due to personal reasons.

However, Lee failed to keep his promises. He voluntarily stepped down from the presidency. Six days after his resignation, a stock manipulation scandal broke out. Reports surfaced that Lee was involved. He is suspected of stock manipulation related to the Soci?t? G?n?rale (SG) Securities crash. In connection with this case, Ra Deok-yeon, CEO of H Investment Advisory, was arrested by prosecutors. Lee maintained a close relationship with Ra, appointing him as a foundation director. Some investors claim they suffered losses after Lee recommended investments.

Lee insists he is innocent. Lee Man-gyu, Lee’s son and CEO of Ananti, said, "My father is an ordinary elderly man," and "He has lost all the assets he had accumulated and is staying secluded, crying over this incident." The direction this case involving Lee will take is uncertain. It is expected to be clarified through investigation. Although Lee resigned citing personal reasons, his behavior was irresponsible. He should have completed his term and set an example for golf professionals.

The Korea Ladies Professional Golf Association (KLPGA) is also in turmoil. Kim Jung-tae, KLPGA president, is under investigation by prosecutors. It is related to the Daejang-dong 5 billion won club suspicion. On the 16th, prosecutors searched Kim’s residence, who was a witness, regarding allegations that former lawmaker Kwak Sang-do received 5 billion won from a private developer in Daejang-dong. Two days later, Kim was summoned for questioning about Kwak’s involvement.

Kim founded the Asia Golf Leaders Forum (AGLF) in January 2020 while serving as chairman of Hana Financial Group and served as its president. After becoming KLPGA president in March 2021, he held both presidencies simultaneously, which drew criticism. When KLPGA Tour and AGLF tournaments were held simultaneously last August, Kim visited Indonesia, where the AGLF tournament took place, sparking rumors. Facing criticism, he resigned from the AGLF presidency in March this year.

There were rumors that Kim took a leave of absence due to the Daejang-dong case and AGLF issues. However, Kim is performing his association duties normally. On the 24th, he appeared at the KLPGA Tour E1 Charity Open Pro-Am event, but reports say the surrounding atmosphere is not favorable.

The problems in the domestic golf community are not limited to association presidents. Former professional golfer A was booked in connection with a cryptocurrency scam. A recently appeared at the Radena Golf Club in Chuncheon, Gangwon Province, where the KLPGA Tour Doosan Match Play Championship was held, causing a stir. On the first day of the tournament, A was a gallery member supporting a student, and on the second day, served as a caddie for another player. There is criticism, saying, "If he is under investigation, shouldn’t he be refraining from activities now?" Another former professional golfer B was found to be involved in recruiting members and money laundering related to the SG Securities stock manipulation case. Golf is a sport that values honor. It is a time for reflection and showing exemplary behavior.