On the 11th, police searched the office of lawmaker Lee Chun-seok at the National Assembly building. He faces allegations of violating the Financial Real Name Act by conducting transactions under a fictitious name.
According to police, the Financial Crime Investigation Unit of the Seoul Metropolitan Police sent investigators to Lee's office in the National Assembly building around 10:18 a.m. that day to secure related materials, including the PCs of Lee and his aide, who is referred to as Mr. Cha.
When police arrived at the building to execute the search, it was said that lawmaker Lee was not in his office. The staff initially blocked the entry of investigators, but later opened the door.
Earlier, on the 4th, Lee was photographed using his smartphone to trade stocks under Mr. Cha's name in the National Assembly chamber. This photograph was reported the following day, on the 5th, and upon facing controversy, Lee's side stated that it was not a fictitious transaction. However, as the party launched an investigation, he left the Democratic Party of Korea that evening, saying it would be a burden on the party.
Lawmaker Lee has served as the Head of Team for the Economic Division 2, responsible for policy planning in the fields of science, technology, and information and communications at the Presidential Committee on Policy Planning, which corresponds to the presidential transition committee. The stocks he traded included Kakao Pay, Naver, and LG CNS.
On the 4th, the Ministry of Science and ICT announced five domestic corporations that would develop the "national representative artificial intelligence (AI)," in light of the stock trading photo captured that day, including Naver and LG CNS. As a result, Lee is also facing allegations of violating the Conflict of Interest Prevention Act for using undisclosed information.
On the 7th, the police established a dedicated investigation team of 25 members, led by Head of Team Ahn Yong-sik, which includes experts such as lawyers and accountants.