Suspicion of Preferential Redemption in Lime, Rep. Kim Sang-hee's Explanation: "Loss of Tens of Millions, No Preferential Treatment"

Kim Sang-hee, a member of the Democratic Party of Korea, denied allegations that she conducted preferential redemptions just before the large-scale suspension of redemptions related to Lime Asset Management on the 24th. Kim explained, "I only suffered losses worth tens of millions of won and did not engage in preferential redemptions."

On the same day, Kim sent a text message to reporters stating, "I want to verify the facts regarding the Financial Supervisory Service (FSS) announcement and media reports," adding, "I entrusted my assets to Mirae Asset Securities, the brokerage firm involved, and only suffered losses worth tens of millions of won without any preferential redemptions."

Earlier, the FSS announced that additional inspections of Lime, Optimus, and Discovery Asset Management confirmed preferential redemptions by a multi-term National Assembly member. Although the FSS did not specify the lawmaker, Kim was later identified through media reports.

Kim Sang-hee, Democratic Party of Korea lawmaker Photo by Yonhap News

Regarding this, Kim stated, "Mirae Asset Securities recommended redemptions to all customers who invested in Lime Martini No.4 and others according to market conditions, and I understand that all customers, including myself, proceeded with redemptions," adding, "I will hold the FSS, which announced the preferential redemptions, and the media outlets that made false reports based on this accountable."

Meanwhile, Ham Yong-il, Deputy Governor of the FSS, said during a Q&A session with reporters about the preferential redemption allegations, "We did not conduct the inspection to find a prominent figure," and added, "The withdrawer (prominent figure) is not a financial professional, so it is unlikely to be a criminal negligence."