Lee Ju-ho Undergoes Intensive Conflict of Interest Review with Edutech Company... "No Investment in Specific Stocks"

8 out of 9 Association Projects Use Ice Cream Edu Devices
"Devices Provided to Underprivileged Children, No Intent for Promotion"
Concerns over Mutual Benefits in Specific Financial Trusts "No Investment in Specific Stocks"

Education Minister nominee Lee Ju-ho is attending the confirmation hearing held at the National Assembly on the 28th, taking the witness oath. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Han Jinju] During the confirmation hearing for candidate Lee Ju-ho, Deputy Prime Minister for Social Affairs and Minister of Education, allegations of conflicts of interest related to donations from edutech companies were intensively addressed.

At the hearing held at the National Assembly on the 28th, the opposition party requested the submission of materials regarding contributions and donations from edutech companies, the candidate’s daughter’s dual citizenship, and the Mirae Asset scholarship. Seo Dong-yong, a member of the Democratic Party of Korea, pointed out, "The candidate may not have expected to become minister again, but conflicts of interest and various suspicions have been raised. It is necessary to verify whether the child entered and exited Korea as a Korean national after 2000, and whether there were any privileges as a public official’s family when acquiring U.S. citizenship during the time the candidate served as vice minister."

Democratic Party member Do Jong-hwan stated, "When the Asia Education Association was established, there were four contributors, totaling 198 million KRW. Among them, the company Ice Cream Edu contributed more than half, 100 million KRW. In the education business research projects, 8 out of 9 AI utilization projects were related to Ice Cream Edu. Ice Cream Edu invested 100 million KRW at the time of establishment, paid all donations, and still generated profits," he criticized.

In response, candidate Lee explained, "If you look at the individual research results, devices were provided to underprivileged children, and the devices from Ice Cream Edu were often priced lower than those available on the market."

There was also criticism that after the research was completed outside the association, the survey included questions mentioning the company name "Ice Cream Edu," asking about positive aspects and willingness to recommend to friends, which was seen as unrelated to "resolving educational disparities." The report on Pohang City’s AI customized education support project used devices from other companies, and the survey did not include company names. Representative Do said, "The association even paid device rental fees, so mentioning the company name in the survey is effectively promoting the company, and there are criticisms that it acts as a promotional ambassador for a specific private education company. Will the Ministry of Education head favor certain companies again if appointed?"

Candidate Lee responded, "The purpose was to understand the pros and cons of specific devices. I do not believe there was an intention to promote a particular company. As chairman, I repeatedly emphasized to staff that we should not represent the interests of any specific company when explaining the founding purpose."

Democratic Party member Moon Jung-bok raised concerns about the candidate not disclosing materials related to a specific financial trust under the name of his spouse. Specific financial trusts are investment products whose investment destinations and profit status are not publicly disclosed and are not covered by depositor protection measures. Moon said, "There is concern that the candidate has a close relationship with a specific private education company and could have mutual interests by exploiting the confidentiality of the specific financial trust."

Moon mentioned the "Lee Ju-ho theme stocks," stating, "It is widely known that companies such as Ice Cream Edu and NHN Edu, which the candidate collaborated with during the transition team period, are involved. There is a reasonable suspicion that the candidate or his spouse invested in these companies in advance, anticipating the future and the candidate’s appointment as minister."

Candidate Lee explained, "It is a product linked to the stock index, not an investment in specific stocks. Regarding edutech, I established and have been active in the Asia Education Association, but my spouse is completely unaware of this matter."

Regarding allegations of plagiarism and research ethics violations surrounding First Lady Kim Geon-hee’s theses, candidate Lee distanced the Ministry of Education from responsibility. Independent lawmaker Min Hyung-bae pointed out, "Kim Geon-hee has officially published seven papers, and if her master’s thesis at Sookmyung Women’s University had been properly done, this situation would not have occurred. The Ministry of Education is also complicit and should re-investigate."

Candidate Lee replied, "The ultimate responsibility for academic ethics lies with the university. It is the responsibility of each individual university." When asked if there were plans to investigate, he said, "I will consider it."

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