Lim Chang-jung's Side on Suspected Stock Manipulation Group Attending Party: "Just a Simple Guest"

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On the 29th, singer Lim Chang-jung, who is reported to have suffered losses amounting to billions of won due to the recent stock price decline triggered by the foreign securities firm Soci?t? G?n?rale (SG) Securities, acknowledged attending a party hosted by suspected stock manipulation groups but stated that he attended "as a guest."

Lim Chang-jung's legal representative, the law firm Daehwan, issued a press release on the same day, asserting, "Lim Chang-jung attended the party as a guest after being invited to the year-end event by Chairman Ramo (head of an investment advisory firm), with whom he was discussing a joint entertainment business project at the time. He did not attend as a member of the hosting party."

Earlier, JTBC reported that Lim Chang-jung attended the so-called 'Jojo Party' held last year to celebrate the suspected stock manipulation group's fund surpassing 1 trillion won.

However, Daehwan clarified, "On the event date, December 2, 2022, no discussions regarding stock investments had taken place with Chairman Ramo, and no stock account was opened under Lim Chang-jung's name. At that time, Lim Chang-jung had known Chairman Ramo for less than a month and was simply invited as a guest to the year-end gathering, attending with his wife and 6-year-old child."

They added, "He only became aware of the specific details of the event after attending. The facts are that he gave a brief greeting, finished his meal, and left early."

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