Police are set to launch a full investigation into Rep. Lee Choon-suak over allegations that he engaged in insider trading.
The Seoul Metropolitan Police Agency announced on Thursday that Ahn Yong-sik, the head of its financial crimes investigation unit, has formed a dedicated investigation team with 25 members, including lawyers and accountants, to look into the case.
Lee, a four-term lawmaker, quit the Democratic Party on Tuesday amid mounting suspicions that he traded stocks in the name of his aide, surnamed Cha, during Monday’s plenary session at the National Assembly.
The lawmaker was caught trading shares of Naver and LG CNS, which were among five companies selected to receive government support under the national AI project announced Tuesday by the Ministry of Science and ICT.
His alleged act raises conflict of interest concerns as he was involved with AI-related policy at the presidential National Policy Planning Committee.
As public complaints against Lee continue to mount, a police official stressed the investigation will be conducted strictly in accordance with laws and established norms.