When you fix one, another one explodes. As he claimed to be a "victim" of stock price manipulation by SG Securities, a photo of him attending the 'KRW 1 trillion party' hosted by the stock price manipulation gang was released. After summarizing the situation by saying, "I was simply an invited guest," it was reported that he not only attended the investor event but also personally proposed a method of paying commissions. In response, Lim Chang-jeong drew a line again, calling it “obvious misinformation.”
He continued, "I'll give you just one month until the end of next month. If you don't give me the desired rate of return, I'll disband this organization," and added, "Be great! This is how religion is born." Investors at the scene responded with ‘Hallelujah’. This shows trust and confidence in those suspected of stock price manipulation.
CEO Ra Deok-yeon is mentioned as the main culprit in the stock price manipulation scandal issued by SG Securities. Lim Chang-jeong praised CEO Ra Deok-yeon, calling him a ‘religionist.’ Lim Chang-jeong holding a microphone in front of investors and giving a speech as if inciting them. This is quite a contrast to his claim that he knew nothing. Lim Chang-jung's side released a statement saying, "I just made a comment to suit the atmosphere of the event. I did not make a comment calling for investment."
Additionally, one media outlet stated that there is evidence that Lim Chang-jung proposed a fee payment method. Borrowing the words of a key official in the stock price manipulation force, he said, "Lim Chang-jung came in person and explained that if he settles the appearance fees of his entertainers, he could be subject to a tax audit later, so it would be better to get the settlement through neighboring copyright rights, etc."
As voices grew louder that Lim Chang-jung was in cahoots with stock manipulators, Lim Chang-jung's side began to actively provide explanations. In an interview with a media outlet, Lim Chang-jung's side said, "The report containing the statement that a commission payment method was directly proposed to stock manipulators is clearly a misconception," adding, "The investment in the entertainment business required for the content and idol production business has been delayed, and the copyrighted work, which is an asset of the company, has been delayed." He explained, “If we buy the adjacent rights, we will start work with that money.”
In addition, on the 27th, it was revealed that Lim Chang-jung attended the 'KRW 1 trillion party' of the stock price manipulation group. The party was held at a restaurant where investors' fees were paid. Lim Chang-jeong's side remained ignorant, saying, "I only found out about the event's details later. I was invited and only had a meal and left."
Lim Chang-jung has not been able to escape suspicion since the stock price crash of SG Securities occurred. They complain that they are victims and that it is unfair, but the public's gaze is harsh. This is because suspicious circumstances surrounding Lim Chang-jeong continue to emerge. Some point out that it all started with his bluff. It is questionable whether he will be able to escape the shackles of controversy and explanation.
Ten Asia Reporter Kim Seo-yoon seogugu@tenasia.co.kr