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🇰🇷 South Korea /Elections & Politics

President Lee urges confessing journalists involved in stock manipulation

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Under investigation
  • South Korean President Lee Jae-myung criticized stock manipulation involving media figures, urging them to confess.
  • The president shared a report on the arrest of a journalist involved in a front-running scheme, calling for a halt to destructive stock manipulation.
  • Lee emphasized normalizing abnormal practices for a better South Korea, referencing an ongoing investigation into media personnel and accountants profiting from fabricated positive news.

President Lee Jae-myung has strongly condemned stock manipulation schemes, particularly those involving media professionals. In a statement shared on his social media platform X, Lee reacted to reports of a journalist's arrest in connection with a front-running case.

Stop the stock manipulation that ruins lives and return to being normal journalists who write with integrity.

— President Lee Jae-myungShared on social media in response to a report about a journalist's arrest in a stock manipulation case.

"Stop the stock manipulation that ruins lives and return to being normal journalists who write with integrity," Lee urged. He also encouraged those involved to confess, noting that "if you have already done wrong, you can receive reduced punishment and a reward for reporting it as a public informant."

The president stressed that "all behaviors that profit by breaking rules, harming good citizens who follow them, are abnormal practices of a bygone era." He asserted that "normalizing all abnormalities is an unavoidable task of our time to build a South Korea where everyone thrives together."

If you have already done wrong, you can receive reduced punishment and a reward for reporting it as a public informant.

— President Lee Jae-myungEncouraging those involved in stock manipulation to confess.

The Financial Supervisory Service's special investigation unit had been probing allegations that economic journalists and certified public accountants profited by pre-purchasing stocks and then publishing thousands of favorable news articles about specific companies. The investigation reportedly uncovered billions of won in illicit gains. The report Lee shared indicated that the special investigators had arrested a news broker and a current journalist, who are considered key suspects in the case.

All behaviors that profit by breaking rules, harming good citizens who follow them, are abnormal practices of a bygone era.

— President Lee Jae-myungEmphasizing the need to correct abnormal practices for national progress.
DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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