Lee Jae-myung: "After disclosing 'speculative stock experience,' they call it stock manipulation... Too many fake news accumulated"

"The Opponent's Position Sees Negative Campaigning as the Only Way"

Lee Jae-myung, Democratic Party of Korea presidential candidate / Photo by Yonhap News

[Asia Economy Reporter Lim Juhyung] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, fired back at the People Power Party, which raised allegations of "stock price manipulation" against him, calling it "fake news."

On the morning of the 26th, during an appearance on KBS's 'Sunday Diagnosis Live,' Lee said, "When I said that my first stock investment was in a manipulated stock recommended by a friend, some media outlets tried to portray me as an accomplice in the manipulation," adding, "Some might think 'that could actually be true.' There is too much of this kind of (fake news) piling up," sharply criticizing the accusations.

He continued, "From the opponent's (People Power Party) perspective, negative campaigning seems to be the only path," pointing out, "This phenomenon was also evident on 'Sampro TV'."

Earlier, on the 25th, Lee appeared on the economic YouTube channel 'Sampro TV' and shared the story of how he first started investing in stocks.

Lee explained the situation at the time, saying, "I bought my first stock, but I didn't know it was a manipulated stock. I bought it because a friend asked me to, without knowing anything," and added, "Every morning when I opened the newspaper, the stock I bought had an upward arrow."

Candidate Lee appeared on the economic YouTube channel 'Sampro TV' on the 25th. / Photo by Sampro TV YouTube capture

He went on, "I enjoyed that every morning, but at some point, it rose too much," adding, "What I bought in the mid-10,000 won range went beyond the mid-30,000 won range." When the host joked, "Did you conduct the manipulation here?" Lee replied, "I found out later that it was a manipulated stock," and said, "I didn't know; I was unknowingly involved in the manipulation. From my perspective, I think I was like a cow catching a big rat without knowing it at the time."

However, after this YouTube video was released, the People Power Party raised suspicions, asking whether Lee was involved in stock price manipulation.

Choi Jihyun, senior deputy spokesperson of the People Power Party's Central Election Committee, issued a statement that day, saying, "It seems that Lee inadvertently confessed to being an accomplice in stock price manipulation on the YouTube broadcast," and criticized, "Although he claims he didn't know it was a manipulated stock, it is suspicious. What explanation did he receive from his friend to invest a large amount of money 'all in' on a manipulated stock?"

She added, "Isn't it because he heard undisclosed information in advance or knew the manipulation plan that he bought 'quite a lot'?"

Hwang Kyuhwan, spokesperson for the same party's Central Election Committee, also stated in a comment, "Lee Jae-myung, who vowed to punish stock price manipulators, should take responsibility for his serious crime."

He further pointed out, "Lee admitted that although it was a 'secret,' he invested 'quite a lot,' made a profit, and then sold everything," and criticized, "He confessed that 'only I benefited, and the rest were all flat,' acknowledging that there were victims and that he was aware of this fact."

This content was produced with the assistance of AI translation services.