Stock Manipulation Group That Targeted Lim Chang-jung Also Approached Noh Hong-chul

It has been reported that the stock manipulation group, which caused massive damage by approaching celebrities including singer and actor Lim Chang-jung, also approached broadcaster Noh Hong-chul.

According to SBS on the 27th, one of the suspects in the stock manipulation case, Mr. A, operated a golf academy in the Gangnam area of Seoul while using the nickname "Top Star Professional Golf Pro." He reportedly built relationships with numerous celebrities, including Noh Hong-chul, under the pretext of giving golf lessons and then encouraged them to invest.

Broadcaster Noh Hong-chul

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Regarding this, a close aide of Noh Hong-chul told SBS, "Mr. A approached Noh Hong-chul through golf lessons like he did with other celebrities. It is true that while learning golf there, Noh Hong-chul was repeatedly encouraged to try stock investments." He added, "However, Noh Hong-chul thought it was strange that Mr. A, despite being young, was extremely extravagant and suspicious in his investment proposals, so he did not invest."

The aide also stated, "Noh Hong-chul is more meticulous and realistic than he appears, so he was not swayed by such temptations," and drew a clear line by saying, "The only financial transaction with Mr. A was purchasing a membership worth about 1 million won for golf lessons over two to three months. There were no other financial dealings or account investigations by investigative agencies."

Noh Hong-chul's agency, FNC Entertainment, also issued an official statement on the 27th, saying, "It is true that Noh Hong-chul received investment proposals but he declined them," and "He is not related to this incident at all."

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Earlier, Lim Chang-jung revealed that he suffered huge losses related to the recent stock price drop incident triggered by the foreign securities firm Soci?t? G?n?rale (SG) Securities. On the 25th, he told JTBC, "I invested 3 billion won with the stock manipulation group, but only 189 million won remains," and claimed, "From tomorrow, it will probably show a minus 500 million won," asserting that he is also a victim.

On the afternoon of the 27th, Lim Chang-jung made his first official statement about the incident through his Instagram. He said, "In November last year, I met the people involved in the incident through an introduction by an acquaintance. They owned cable TV channels and drama production companies, so I expected significant synergy with the business I am promoting and formed a partnership." He added, "I had almost no experience with stock investment and did not know how to trade stocks, so I trusted what they said as good financial management and opened accounts in the same way other investors did, entrusting some of the stock funds to them. The transactions were entirely left to them."

He also expressed his grievances related to the incident. Lim Chang-jung said, "I have not caused financial damage to anyone nor have I ever gained wrongful profits," and stated, "The report that I encouraged fellow Mr. A to invest is a clear false report." Earlier, some media outlets reported that Lim encouraged a fellow singer to invest, and that the singer trusted Lim and suffered significant losses.

Finally, Lim Chang-jung said, "All facts will be revealed through investigation, and I will sincerely cooperate with the investigation," and conveyed, "I bow my head and apologize to everyone and the fans who were disappointed by this incident."

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