Police Raid Lawmaker Lee Chunseok's Office Over Suspected Stock Transactions Under Borrowed Names

Police have launched a search and seizure operation at the National Assembly office of lawmaker Lee Chunseok, who is under suspicion of engaging in stock transactions under borrowed names.

Lee Chunseok is leaving the plenary hall after attending the plenary session held at the National Assembly on the 5th. Photo by Yonhap News

The Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency dispatched a dedicated investigation team to Lee's office in the National Assembly Members' Office Building at around 10:20 a.m. on August 11. The team sought to secure materials related to the case, including the computers of Lee and his aide, identified as Mr. Cha. Initially, Lee's aides blocked the investigators from entering, but eventually opened the door after a phone call.

On August 4, Lee voluntarily withdrew from the Democratic Party of Korea after a photo surfaced showing him trading stocks under Cha's name in the National Assembly plenary hall, sparking controversy. Lee apologized for causing public concern, but firmly denied ever opening a stock account or conducting stock transactions under someone else's name.

At the time, Lee was photographed trading shares of Naver and LG CNS, both considered artificial intelligence (AI)-related stocks. This raised concerns over a potential conflict of interest, as Lee served as the head of the Economic Division 2, which is responsible for AI policy, in the National Policy Planning Committee.

Police are also investigating an incident on October 7 of the previous year, when Lee was reportedly caught on camera by the media trading stocks through an account under Cha's name during a National Assembly Land, Infrastructure and Transport Committee audit held at the Government Complex Sejong.

The Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency formed a dedicated team of 25 members, including lawyers, accountants, and experts in legal and financial tracking, on August 7.

A police official stated, "The dedicated investigation team will conduct the investigation strictly in accordance with the law and principles."

Previously, President Lee Jaemyung ordered a thorough investigation into the matter.

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