Lawmaker under scrutiny for allegedly conducting stock trades under subordinate's identity
Lee Choon-suak Accused of Proxy Stock Trading During Parliamentary Session
Lee Choon-suak, a senior Democratic Party lawmaker and chair of the National Assembly’s Legislation and Judiciary Committee, is under scrutiny for allegations of trading stocks under a proxy account during a plenary session at the National Assembly in Yeouido, western Seoul.
The controversy erupted following the publication of a photo by The Fact, showing Lee checking a trading account on a mobile app during the Aug. 4 plenary session. The account is registered under the name of his aide, not his own. The trades reportedly involved shares worth over 100 million won (~$72,500), including stocks of Naver, Kakao Pay, and LG CNS[1][2].
The opposition People Power Party (PPP) has accused Lee of engaging in “a serious crime that undermines small investors” and called for his resignation and legal action, including ethics complaints and criminal referrals. Lee has denied any wrongdoing[1][2].
The incident has political implications, as Lee has been a close aide to President Lee Jae-myung and held key leadership positions, including chairing the Legislation and Judiciary Committee and leading an AI subcommittee in the presidential policy planning office. The ruling Democratic Party has pledged to expel him, and President Lee has ordered a full investigation[3].
The case has damaged public trust in the government's economic initiatives, including the president’s ambitious “KOSPI 5000” stock market target[3][5]. To probe the allegations, a 25-member special investigation team has been formed, and investigations include questioning the complainants and civic groups who reported the case after similar suspicious stock account activity was documented during a 2023 parliamentary audit[4].
It is not clear who initiated or opened the modal window seen in the photo, and the content of the modal window is not specified in the article. The modal window was not mentioned during the Aug. 4 plenary session, and it does not appear to be related to the trading account registered under the aide's name[1][2].
References:
- Lee Choon-suak Accused of Stock Trading During Parliamentary Session
- Lee Choon-suak Denies Stock Trading Allegations
- Lee Choon-suak's Stock Trading Allegations: Full Investigation Ordered
- Special Investigation Team Formed to Probe Lee Choon-suak's Stock Trading Allegations
- Lee Choon-suak Stock Trading Allegations: Impact on the President's Stock Market Target
- The allegations against Lee Choon-suak, a senior Democratic Party lawmaker, have sparked debate in the realm of policy-and-legislation and general-news, as they question the ethics and integrity of politicians within the government.
- The opposition party, People Power Party, has escalated the controversy by accusing Lee of a serious political offense that may require legal action and potential ramifications for the government's economic initiatives.
