Police Form Special Investigation Team for Allegations of Lee Chunseok's Stock Trading under Borrowed Names

The police have formed a dedicated investigation team in connection with the allegations of stock transactions under borrowed names involving independent lawmaker Lee Chunseok, formerly of the Democratic Party of Korea.

Former lawmaker Chunseok Lee of the Democratic Party of Korea (Independent) is moving in the National Assembly plenary session hall. Photo by Yonhap News

On August 7, the Seoul Metropolitan Police Agency announced that it had organized a dedicated investigation team consisting of 25 members, including legal professionals such as lawyers and accountants, with the head of the Financial Crime Investigation Unit serving as the team leader.

As reports against Lee continued, the police assigned the case to the Financial Crime Investigation Unit.

The previous day, Joo Jinwoo, a lawmaker from the People Power Party, filed a complaint with the Seoul Metropolitan Police Agency against Lee for alleged violations of the Capital Markets Act and the Real Name Financial Transactions Act. On August 5, the Yeongdeungpo Police Station in Seoul also booked Lee for alleged violations of the Real Name Financial Transactions Act.

On August 4, Lee was accused of trading stocks related to artificial intelligence (AI) in the name of his aide in the National Assembly plenary session hall.

A police official stated, "We will conduct a thorough investigation in accordance with the law and principles."

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