Lim Chang-jeong and Ra Deok-yeon accompany each other when signing a contract for a golf course in California.
As the controversy over singer Lim Chang-jung, who is suspected of being involved in stock price manipulation, has arisen again, attention is being paid to what kind of explanation will be provided.

According to JTBC's 'Newsroom' on the 2nd, Lim Chang-jung accompanied the signing of a contract with Ra Deok-yeon, CEO of H Investment Consulting Company, to purchase a golf course in California, USA, early last month. CEO Ra Deok-yeon was identified as a key figure in the suspicion of stock price manipulation that arose when the stock price of Societe Generale (SG) plummeted.

According to 'Newsroom', it was confirmed that CEO Ra actually signed a contract with the golf course. The first payment alone is said to be over 20 billion won. The seller is Yoo Shin-il, chairman of Korea Industrial Corporation, and is known to be a major player in the golf industry, owning about 20 golf courses overseas, including prestigious golf courses in the United States.

Lim Chang-jeong and Ra Deok-yeon accompany each other when signing a contract for a golf course in California.
Lim Chang-jeong and Ra Deok-yeon accompany each other when signing a contract for a golf course in California.
In an interview, Chairman Yoo revealed that Lim Chang-jung came with him at the time of signing the contract and said, "That was the first time I saw Lim Chang-jung. I heard that Lim Chang-jung's kids play golf in Canada ." He added, “So I know golf well, and it was really good to come and see him. He said he would do it right away and signed the contract. “I did it,” he said.

Chairman Yoo became acquainted with CEO Ra through the introduction of Lee Jung-myeong, former chairman of the domestic luxury resort group Ananti, in November of last year. Chairman Yoo entrusted 2 billion won to CEO Ra, and CEO Ra is known to have earned Chairman Yoo's trust by earning close to 1.5 billion won in profits in the first few months.

Afterwards, Chairman Yoo made an agreement with CEO Ra to split the shares of three Japanese golf courses in half, but it ultimately came to nothing. ‘Newsroom’ said, “(Chairman Yoo) has now lost all of his investment and is in debt, and has requested CEO Ra to take down the advertisement for the Japanese golf course.”

Meanwhile, Lim Chang-jung is recently suspected of participating in stock price manipulation related to the 'stock price crash' originated by the foreign securities company Societe Generale (SG) Securities. Lim Chang-jeong, who complained that he was unaware of the stock price manipulation, is claiming that he is also a victim, saying that he is now saddled with 6 billion won in debt. However, Lim Chang-jung became controversial after it was revealed that he participated in investor events such as the so-called 'KRW 1 trillion party' hosted by a stock price manipulation gang. In response, Lim Chang-jung's side said, "I attended as a guest, not as a member of the organizers," and "We are considering a strong response (to the incorrect information)."

Choi Ji-ye, Ten Asia Reporter wisdomart@tenasia.co.kr
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