"We Are Done After Passing Tsukidashi and Kim Beom-su" Lee Junho Recording... Perjury? vs. Exposure?

One of the key figures related to Kakao's 'SM Entertainment stock price manipulation suspicion,' former head of Kakao Entertainment's Investment Strategy Division Lee Junho, was found to have said in November last year, when the prosecution's investigation was in full swing, "We are just 'Tsukidashi,' so let's hand over Bae Jaehyun and Kim Beom-su to the prosecution and end this." This statement was made during a phone call with Ji Chang-bae, CEO of One Asia Partners, who is currently on trial for related charges.

According to the legal community on the 30th, the conversation between the two took place on November 24 last year. Lee Junho personally recorded the phone call on video and submitted it to the prosecution, while Ji Chang-bae was reportedly unaware of the recording.

Kim Beom-su, Chairman of Kakao's Management Innovation Committee, arrested on charges of 'SM price manipulation' (Photo by Yonhap News)

At the time of the call, former Kakao Chief Investment Officer Bae Jaehyun had already been arrested and indicted, and the prosecution was expanding its investigation comprehensively, including raiding Kakao's headquarters. Notably, Lee Junho was named as a key suspect in the high-priced acquisition suspicion of the drama production company 'Baram Pictures.' Baram Pictures is a company invested in by his wife, actress Yoon Jeong-hee. Lee Junho is accused of causing losses to the company by acquiring Baram Pictures, which was in a deficit at the time in 2020, for 20 billion KRW. This is a separate case from the Kakao stock price manipulation charges. This is presumed to be the background behind Lee Junho's urgent mention of 'handing over Kim Beom-su.'

Lee Junho's remarks are noteworthy because he was a key witness who made crucial statements regarding the Kakao stock price manipulation suspicion during the recent arrest of Kim Beom-su, chairman of Kakao's Management Innovation Committee. However, interpretations of the statement differ between the prosecution and the defense team.

Lee Junho reportedly admitted to most of the stock price manipulation charges related to Kakao's SM Entertainment during earlier prosecution investigations. He also appeared as a witness at the trial of Bae Jaehyun and Ji Chang-bae held at the Seoul Southern District Court on the 5th, testifying that "there was confirmation from Brian (Kim Beom-su)." The defense strongly opposed this, calling it 'perjury.' The defense lawyer for former CEO Bae argued, "Lee Junho held a large amount of Kakao Entertainment shares through his wife Yoon Jeong-hee and also owned about 8 billion KRW worth of SM stocks. As the separate investigation into himself and his spouse, whose entire assets were at stake, expanded, he told the prosecution what they wanted to hear to get out of the charges."

On the other hand, the prosecution submitted the recorded conversation to the court, considering it evidence proving the conspiracy between Kakao and One Asia Partners. There were also reports that Lee Junho applied for leniency (Leniency: reduced punishment for voluntary reporting). Since the amendment of the Capital Markets Act in January, the leniency system has been applied to securities crimes as well. However, a prosecution official said, "We cannot confirm whether leniency has been applied for." If the testimony is accepted, the prosecution's sentencing demand for Lee Junho is expected to be reduced in the future.

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