President Lee urges journalists to write honestly and accurately on stock manipulation
President Lee Jae-myung mentions the case of a reporter involved in stock manipulation... calls for blocking unfair trading He also emphasizes preventing price manipulation through favorable articles and making use of the public-interest whistleblower system
President Lee Jaemyung, on the 13th, referred to the case of a journalist from an economic media outlet who was arrested on suspicion of inflating stock prices to make illicit gains, and said that stock manipulation must stop and a return to normal journalism is needed.
President Lee shared a related article on his X account and criticized the practice of publishing favorable articles in advance to drive up stock prices and reap profits. The case involves the Financial Supervisory Service’s Special Judicial Police for Capital Markets arresting the journalist and a broker, among two people, on suspicion of violating the Capital Markets Act.
According to reports, the number of articles they wrote to boost stock prices reached 2,000, and the illicit gains made in the process were said to amount to about 9 billion won. President Lee said that surrendering and whistleblowing could be used to seek reductions in punishment and take advantage of the reporting reward system.