Former CEO Jeong Changrae to Be Questioned as a Suspect on July 9
Chairman Lee Iljun Summoned as a Suspect on July 10
Min Joongki, the special prosecutor in charge of the case related to allegations against Kim Gunhee, wife of former President Yoon Sukyeol, is giving a greeting speech at the plaque unveiling ceremony held on July 2, 2025, at the special prosecutor's office set up in the KT Gwanghwamun Building West in Jongno-gu, Seoul. Photo by Jo Yongjun
The special prosecutor team led by Min Joongki, which is investigating multiple allegations involving Kim Gunhee, has notified the current chairman and former CEO of Sambu Construction to appear for questioning in connection with Kim Gunhee's alleged stock price manipulation. The special prosecutor's office appears to be accelerating its investigation into the Sambu Construction stock manipulation case, which it has designated as its first official investigation.
The special prosecutor's team has summoned Jeong Changrae, former CEO of Sambu Construction, to appear for questioning on July 9, and Lee Iljun, chairman of Sambu Construction, on July 10. Both individuals have been summoned as suspects. Additionally, on July 7, the special prosecutor's team summoned and questioned an executive from the Eurasia Economic Association.
An official from the special prosecutor's office stated, "We plan to summon and question former CEO Jeong and Chairman Lee," adding, "Even over the weekend, we are summoning other individuals for questioning, analyzing seized materials, and tracking financial accounts."
The special prosecutor's team is expected to question former CEO Jeong and Chairman Lee about why the stock price of Sambu Construction surged in 2022 and 2023, despite the company having no real intention to participate in the reconstruction of Ukraine, while the government pledged support and attended the Ukraine Reconstruction Forum.
Previously, the Securities and Futures Commission of the Financial Services Commission reported more than ten individuals?including former and current de facto owners and CEOs of Sambu Construction?to the prosecution for alleged violations such as prohibited unfair trading under the Capital Markets Act. Kim Gunhee and Lee Jongho, the former CEO of Black Pearl Investment known as Kim Gunhee's account manager, were not included in the report because "no connection to unfair trading was confirmed."
Before summoning former CEO Lee, who is considered a key figure in the Sambu Construction stock manipulation case, the special prosecutor's team is expected to question other major associates of Sambu Construction to closely examine the relationship between former CEO Lee and the company. It is reported that the special prosecutor's team has not yet finalized the schedule for summoning former CEO Lee.
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