President Lee Jae Myung has given instructions to move quickly and conduct an impartial investigation into allegations that ruling Democratic Party Rep. Lee Choon-suak traded stocks in the name of an aide and used insider information.

At a press briefing Wednesday, presidential spokesperson Kang Yu-jung said President Lee takes the allegations very seriously.

On Tuesday, the four-term lawmaker came under fire after a local media outlet published a photo that appeared to show him trading shares under his aide’s name on a mobile phone during a plenary session.

The lawmaker’s position on the State Affairs Planning Committee handling artificial intelligence also raised concerns about potential conflicts of interest, as he was seen trading tech shares, including Naver and LG CNS shares.

The lawmaker offered to leave the party voluntarily, but the party later announced plans to expel him.

The presidential spokesperson said President Lee also ordered Rep. Lee’s immediate dismissal from the planning committee, which is fulfilling the role of a transition team for the administration.

The president is believed to have ordered the response measures while on a summer holiday, having pledged to crack down on stock manipulation and unfair trading practices soon after taking office in early June.