hankyoreh

First lady Kim Keon-hee and President Yoon Suk-yeol applaud after taking in a performance of a quartet from the Hawaii Symphony Orchestra at a meeting with Koreans living in Hawaii on July 8, 2024 (local time). (Yonhap)

Testimony has come out that Lee Jong-ho, who was convicted for his central role in a stock price manipulation scheme in which the first lady is also implicated, habitually referred to President Yoon Suk-yeol and the first lady as “V1” and “V2.”

Lee is the former CEO of asset management firm Black Pearl Invest and has been dubbed the “control tower” of the Deutsch Motors stock manipulation case — a case in which first lady Kim Keon-hee has also been implicated. 
 
In a phone call with an unnamed whistleblower lawyer (“Whistleblower A”) on Aug. 9 last year, Lee said he would try to lobby a “VIP” to protect Lim Seong-geun, the former commander of the Marine Corps 1st Division. Lee has since tried to clarify that the “VIP” mentioned in the phone call was Marine Corps Commandant Kim Kye-hwan.
 
According to the Hankyoreh’s reporting on Thursday, Whistleblower A testified in a recent investigation by the Corruption Investigation Office for High-ranking Officials (CIO) that Lee bragged about his friendship with Yoon and Kim by referring to them on numerous occasions as “V1” and “V2,” respectively.
 
In particular, Lee also reportedly stated that he lobbied to protect Lim on Aug. 28 of last year, the day after Yoon’s outrage at the case became public, as he had dinner with Whistleblower A in a restaurant in Seoul. Lee is also said to have used the nicknames “V1” and “V2” during the dinner.
 
Lee must’ve felt that the conversation contained sensitive information, calling Whistleblower A after the dinner took place at 8:54 pm to suggest that what transpired between the two that day should stay confidential. The CIO has reportedly determined that it was highly likely that the “VIP” mentioned by Lee in the phone call was indeed Yoon.
 
As laid out in the Hankyoreh’s prior reports on the phone conversation that took place on Aug. 9 of last year between Lee and K, Lee said to Whistleblower A, “[Person X] called me saying that [Lim Seong-geun] was going to resign. So I told [Person X], ‘Tell him not to resign. I'll talk to the VIP.’”
 
Whistleblower A then asked, “So, you’re saying that the VIP decided to protect Lim?” Lee responded, “That's right. But the media is making a fuss.” Person X, a former Marine who was also formerly a member of the Presidential Security Service, is a confidant of Lim.
 
All those involved are denying the allegations. In a phone conversation with the Hankyoreh, Lee stated that he would clarify his position soon, and that some things “are being blown far out of proportion.” 

“I’ve never contacted the first lady ever since she got married. I only exaggerated because an acquaintance of mine was asking.” Lim continues to maintain that he never met or called Lee.
 
The presidential office issued a statement on Wednesday in response to reports on the leaked phone call.  

“In response to reports concerning Lee, an individual involved in the Deutsch Motors stock price manipulation case, and his apparent attempts to lobby for the exoneration of former Division Commander Lim by claiming that he would ‘talk to the VIP,’ the presidential office would like to make clear that the office, the president, and the first lady have nothing to do with the case.” 

“The presidential office deeply regrets the spread of baseless allegations and senseless reports and will respond strongly to the spread of false information,” it went on. 

By Jeon Gwang-joon, staff reporter; Oh Yeon-seo, staff reporter; Jeong Hye-min, staff reporter; Bae Ji-hyun, staff reporter; Kim Wan, staff reporter

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