Lee Bok-hyun: "Will Try My Best to Handle the Case Within My Term"
On Allegations Involving Kim Geon-hee and Won Hee-ryong: "Not Included"
On the 18th, the ruling and opposition parties clashed during a National Assembly Finance Committee inquiry over allegations of stock price manipulation involving Kim Geon-hee in the 'Sambu Construction Stock Manipulation Case.' The opposition party labeled it a "serious cartel crime using presidential power," while the People Power Party defended Kim, calling the allegations "fantasy fiction."
On the 18th, Kim Byung-hwan, Chairman of the Financial Services Commission (from the left), Han Ki-jung, Chairman of the Fair Trade Commission, and Lee Bok-hyun, Governor of the Financial Supervisory Service, attended the full meeting of the Political Affairs Committee held at the National Assembly in Yeouido, Seoul. Photo by Yonhap News.
Jeon Hyun-hee, a member of the Democratic Party of Korea, pointed out that "very specific circumstances have raised suspicions of stock price manipulation related to Sambu Construction's reconstruction projects in Ukraine," adding, "Isn't it true that the investigation only started after the Korea Exchange submitted related materials, while they were practically doing nothing?"
Min Byung-duk, also from the Democratic Party, criticized, "It has been six months since we received the Korea Exchange's abnormal trading investigation report," and said, "If profit realization is confirmed, we need to check for illegality. Despite claiming to have considerable personnel, hasn't only one person been handling this so far?"
On the other hand, Kang Myung-gu of the People Power Party defended Kim Geon-hee by asking Lee Bok-hyun, Governor of the Financial Supervisory Service, "Please clearly state the stock manipulation led by Kim Geon-hee," and added, "The only connection is the meeting between the First Lady of Ukraine and Kim Geon-hee."
Sambu Construction's stock price surged from 1,100 won to 5,500 won after President Yoon Seok-yeol attended the Ukraine Reconstruction Forum held in Poland in May 2023, being classified as a 'Ukraine-themed stock.' During this period, it was confirmed that the family of former Sambu Construction Chairman Cho Sung-ok made a profit of around 10 billion won from the price difference.
The opposition suspects the involvement of close associates of President Yoon's family, as the timing of Sambu Construction's stock price surge coincides with the president and his wife's visit to Ukraine.
Lee Jong-ho, former CEO of Black Pearl Investment, who managed Kim Geon-hee's accounts and is a key figure in the Deutsche Motors stock manipulation allegations, is also reported to have sent a message saying 'Check Sambu tomorrow' in a group chat just before President Yoon attended the reconstruction forum.
Lee Bok-hyun, Governor of the Financial Supervisory Service, appeared at the plenary session that day and responded to Finance Committee Chairman Yoon Han-hong's question, "When will the Sambu Construction case be wrapped up and handed over to the prosecution?" by saying, "My term ends in early June, but I will try to handle it as much as possible while I am here."
Lee explained that neither Kim Geon-hee nor former Minister of Land, Infrastructure and Transport Won Hee-ryong are included among the investigation targets of Sambu Construction.
In response to Min Byung-duk's question, "Is Kim Geon-hee included among the stakeholders under investigation for Sambu Construction?" Lee answered, "She is not included." He also denied any connection to former Minister Won, saying, "Not all politicians are illegally involved in political-themed stocks just because they are political-themed stocks."
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