Kakao executive Lee Jun-ho is under investigation for allegedly manipulating SM Entertainment (SM)’s stock price. Attention is now focused on whether his wife Yoon Jung-hee was involved in this incident
The Seoul Southern District Prosecutors’ Office Financial Investigation Division 2 has applied the “breach of trust” charge under the Special Economic Act to Lee Jun-ho, considering him a key suspect in the investigation.
Lee is accused of involvement in price manipulation while Kakao and Kakao Entertainment were competing against HYBE to acquire SM.
Notably, actress Yoon Jung-hee is reported to have held 67,751 SM shares, valued at about 4.8 billion won, as of the end of last year.
Yoon’s connection to the case is being scrutinized as her husband’s involvement unfolds.
Additionally, the couple faces suspicions related to the high-priced acquisition of drama production company Baram Pictures, with allegations of conspiring in the acquisition. Investigations may shift Yoon’s status from a witness to a suspect, and the connection between her stock holdings and the SM acquisition will be closely examined.
However, there are observations suggesting Yoon’s holding of SM stocks before the acquisition may render her unrelated to the case, making it essential to monitor the direction of the investigation.
Actress Yoon Jung-hee, who returned to the small screen in 2021 after 7 years with “Now, We Are Breaking Up”, is facing potential image damage due to her connection to the ongoing investigation.
Source: Nate
