Father-in-law involved in stock manipulation... Lee Seung-gi "It happened before marriage, don't involve my family"

Supreme Court Rules Jang In Imo Guilty of Stock Manipulation
"Family Matter... Strict Response to Fake News"

Singer and actor Lee Seung-gi hinted at taking legal action against malicious comments after the Supreme Court's guilty verdict on his father-in-law, Mr. Lee, who was indicted for stock price manipulation, was made public on the 16th, stating, "Please do not touch my family."

On the same day, Lee Seung-gi conveyed through his agency Big Planet Made Entertainment, "As an artist celebrating his 20th debut anniversary, I earnestly ask that my family not be touched for the sake of Lee Seung-gi, who is striving to get closer to his fans."

Singer and actor Lee Seung-gi [Photo by Yonhap News]

Lee Seung-gi’s father-in-law, Mr. Lee, who is also the husband of actress Kyeon Mi-ri, was accused of manipulating stock prices through false disclosures. On the 30th of last month, the Supreme Court’s 3rd Division (Presiding Judge No Jeong-hee) overturned the original acquittal verdict for Mr. Lee and three others indicted for violating the Capital Markets Act, and sent the case back to the Seoul High Court with a guilty intent. The court ruled that some of the disclosed information constituted "fraudulent acts" that could cause losses to investors. Mr. Lee, who was a director of KOSDAQ-listed company A, was prosecuted for artificially inflating stock prices by falsely announcing favorable news such as Kyeon Mi-ri and Chinese capital participating in the company’s paid-in capital increase from November 2014 to February 2016, then selling the shares obtained through the capital increase to gain approximately 2.37 billion KRW in profits.

The agency stated, "Lee Seung-gi is now fulfilling his responsibilities as the head of a family, as a husband, as a father of one child, and as a son-in-law of a household. Also, Lee Seung-gi’s father-in-law and mother-in-law have become grandparents to a newly born life." They added, "This matter occurred before Lee Seung-gi got married and is a problem that the family must resolve." They further emphasized, "Going forward, the agency will take stronger legal action against fake news and malicious defamatory comments about Lee Seung-gi and his family."

Lee Seung-gi married actress Lee Da-in, the second daughter of Kyeon Mi-ri, in April last year and had a daughter in February this year. Since 2022, he has been involved in a legal dispute over settlement payments with his former agency. Lee Seung-gi debuted in 2004 as a high school student and worked with his former agency Hook until their split in 2022 after 18 years due to settlement issues. Afterward, he worked under a one-person agency before joining his new agency Big Planet Made Entertainment this year.

Mr. Lee said, "I hope that junior entertainers who debuted at a young age like me will not suffer similar disadvantages through this case," and mentioned that he plans to donate all unsettled payments he will receive through future lawsuits. Previously, after announcing in 2022 that he would donate the 5 billion KRW of unsettled payments unilaterally settled and transferred by Hook, he started by donating 2 billion KRW to Seoul National University Children’s Hospital and has since made large donations to the Korean Red Cross, KAIST, and others.