"Ra Deok-yeon’s 'Is Religion?' Remark, Wanted to Look Good... Apologizes Later, Lim Chang-jung’s Side Responds"

"Exaggerated Remarks Driven by Atmosphere"
Refuses Interview and Apologizes in Writing

Lim Chang-jung, who claimed to be a victim of the SG (Soci?t? G?n?rale) Securities crash, has belatedly apologized for his related remarks.

Lim often acted as a frontman at events hosted by Ra Deok-yeon, CEO of investment consulting firm H, who was at the center of this incident. It was revealed that Lim even praised Ra in front of numerous audiences, saying, "(CEO Ra) is like a religion. He is doing very well," which sparked controversy.

On the 6th, on MBC's 'PD Notebook,' Lim's side stated in a written statement, "The problematic event was a charity golf event," and added, "There were many people at the event who had entrusted funds to Mr. Ra's asset management company and actually earned profits, and those people said that Mr. Ra was an excellent businessman and investor, so Lim also believed that to be true."

They continued, "Especially since Lim was in a position where he needed to raise investment to build an entertainment company that he had bet his life on, he also wanted to make a good impression on Mr. Ra," and explained, "In this situation, Lim, who took the microphone as an invited singer, got swept up in the atmosphere and made exaggerated remarks praising Mr. Ra."

Lim's side said, "While it is customary for invited singers at events to make favorable remarks about the hosts, Lim regrets and reflects on having made exaggerated statements at that time."

Previously, in December last year, Lim praised Mr. Ra as if he were a religion at an investor meeting held by a golf company established by stock manipulation forces. He said, "But I entrusted money to that XX again, it’s like a religion. You’re doing well. Because that XX who took my money is amazing." Among the audience, responses such as "We believe! Hallelujah" were heard.

Lim also said, "You have until the end of next month, just one month. If you don’t give the returns you want, I will dissolve all of this," and added, "Be great! This is how a religion is born."

Meanwhile, a person who attended the event said it was hard to understand Lim Chang-jung’s claim of being a victim.

An investor said, "I definitely heard the nuance of 'I’m investing too, so you should invest as well' to the people there. Was it really necessary for him to step forward and say that?" and added, "Only Lim Chang-jung himself knows why he said those things."