Members of the Democratic Party of Korea on the National Assembly's Committee on Financial Affairs will visit the Financial Supervisory Service on the 10th. This visit is to urge a swift investigation into the stock manipulation allegations involving SAMBU Construction.

Lee Jae-myung, the leader of the Democratic Party of Korea, presents the stock chart of SAMBU Construction, which was designated as a stock requiring investment caution due to its recent surge in price, during the on-site meeting of the Korea Stock Market Activation TF held at the Korea Exchange's promotional hall in Yeouido, Seoul, on Nov. 28, 2024, in the morning. /Courtesy of News1

The lawmakers plan to hold a press conference in the lobby of the FSS on the 1st floor in Yeouido, Yeongdeungpo-gu, Seoul, at 10 a.m. that day to call for the investigation.

Opposition members have raised stock manipulation allegations, noting that after Lee Jong-ho, a former leader, posted a message saying 'check SAMBU tomorrow' in a group chat, the trading volume and stock price of SAMBU Construction surged.

After participating in the Global Reconstruction Forum for Ukraine held in Poland in May 2023 and being classified as a reconstruction company for Ukraine, the stock price of SAMBU Construction, which had been in the 1,000 won range, soared to 5,500 won during trading in July of the same year. The timing of the surge coincides with the visit of President Yoon Suk-yeol and his wife to Ukraine to discuss reconstruction projects with President Volodymyr Zelenskyy and his wife, according to the opposition.

Park Chan-dae, the floor leader of the Democratic Party, stated, 'The Democratic Party has consistently pointed out that this incident is a planned stock manipulation scheme involving Kim Keon-hee and Yoon Suk-yeol.' He added, 'As recent media reports reaffirm the need for a special investigation, we will undoubtedly uncover the truth of the case through the Kim Keon-hee special investigation.'

Previously, the Korea Exchange initiated a review of abnormal trading related to the stock manipulation of SAMBU Construction in July 2024. The FSS commenced an investigation two months later in September 2024 after receiving the results of the review from the Korea Exchange, and currently, four people are part of the investigation team.

The FSS is investigating the fact that former SAMBU Construction Chairman Cho Seong-ok, his family, the largest shareholders, and related corporations sold stocks worth hundreds of millions of won from around 10 accounts since May 2023. It is estimated that the profits obtained from the sale of the stocks by SAMBU Construction's major shareholders during the stock price surge amount to at least 10 billion won.

I Bok-hyun, the head of the FSS, noted on the 5th, 'It is hard to deny that some stakeholders have realized profits exceeding 10 billion won.'

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