2023-04-30 08:31:00
Apgujeong Claims to own a multibillion-dollar building… Explanation through YouTuber Jinho Lee
“Why would you sell the copyright if you had a building… There is only one building that has been mortgaged”
[이코노미스트 김설아 기자] While singer and actor Lim Chang-jung complained regarding damages related to the crash in the stock order of Societe General (SG), a foreign securities company, he explained the ‘Apgujeong building rumor of tens of billions of won’.
According to the industry, an article was recently posted on an online community saying, “There is no need to worry regarding Lim Chang-jung, who claims that he suffered damages following investing 3 billion won in stock manipulation gangs issued by SG Securities.” In the article, the writer wrote, “I’m pretending to be sorry that Lim Chang-jung was scammed,” and “There are several buildings in Apgujeong and Pangyo, so there’s no need to worry.”
He added, “Even if you sell just one building in Apgujeong, you will have tens of billions of won left over even following you pay off all your debts, including the loss of stocks and fraud.”
As the article spread around the investment community and the criticism intensified, Lim Chang-jung started to explain through Lee Jin-ho, a former entertainment reporter. On the 29th, Lee Jin-ho posted on his YouTube channel, ‘Even following paying tens of billions of won? I uploaded a video titled ‘Lim Chang-jeong Apgujeong Building’.
In the video, Lee Jin-ho said, “There was a post saying that Lim Chang-jung has a building worth tens of billions of won.” They said that if there was a building in Apgujeong, they wouldn’t have sold the copyright last year. The reason why I sold the copyright like a child was that the funding line was really dry.”
As the basis, Lee Jin-ho mentioned the financial statements of Lim Chang-jung’s personal corporation, ‘Corporate Lim Chang-jung’. It is explained that the point in time when Lim Chang-jung sold the copyright was in 2021, two years ago, and at that time, the company’s sales were 4.5 billion won and net profit reached 2.7 billion won, but all of these sales were made by selling copyrights.
Lee Jin-ho added, “Even at that time, Chang-jeong Lim was at the edge of a cliff where he had to sell his own copyrights.”
Lee Jin-ho also added, “The only building Lim Chang-jung currently owns is the ‘Yes I Am’ office building in Paju.
Meanwhile, Lim Chang-jung invested 3 billion won in a group suspected of stock price manipulation, but is complaining of damage, saying that he lost most of the investment. However, as the fact that he appeared on a broadcasting channel run by a gang of suspected stock price manipulation became known, there is also suspicion that Joe participated in the manipulation.
The financial authorities and the police launched a full-scale investigation into the slump in stock prices issued by SG Securities. The group, suspected of being the operational force, is suspected of raising the stock prices of regarding 10 stocks by attracting funds from professionals and celebrities and making proxy investments.
ⓒ The Economist (https://economist.co.kr) Unauthorized reproduction and redistribution of ‘The Economist, Economic News for Tomorrow’ is prohibited
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