Kim Geon-hee's Name Appears Again... Special Prosecutor Investigates Sambo Construction-Well Biotech Stock Manipulation

[Financial News] Kim Geon-hee Special Prosecutor Team (Min Jung-gi Special Prosecutor) is summoning and investigating former and current executives of Well Biotech, an affiliate of Sambo Construction, to investigate allegations of stock manipulation in Sambo Construction.
The special prosecutor team is summoning Mr. Lee, the chairman of Well Biotech and vice chairman of Sambo Construction, and former Well Biotech CEO Mr. Koo as suspects to the special prosecutor's office located in Jongno-gu, Seoul, at 10 a.m. on the 13th, for allegations of unfair trading under the Capital Markets Act.
Mr. Koo entered without answering reporters' questions such as 'Do you admit to the allegations of stock manipulation in Sambo Construction and Well Biotech using the Ukraine Reconstruction Forum as a starting point?' and 'Is former Black Pearl Investment CEO Lee Jong-ho or Mrs. Kim Geon-hee involved in the stock manipulation?' Mr. Lee entered through another entrance.
Well Biotech attended the Ukraine Reconstruction Forum held in Poland in May 2023 and saw its stock price surge as it was grouped with Sambo Construction as a Ukraine reconstruction stock. The special prosecutor team is likely to question them about △the reason for attending the Ukraine Reconstruction Forum △the reason for the stock price surge △the involvement of former CEO Lee Jong-ho and Mrs. Kim.
Well Biotech, where Sambo Construction Chairman Lee Il-jun is the largest shareholder, announced a shareholders' meeting to appoint an internal director ten days before the Ukraine Reconstruction Forum, with Yang Yong-ho, chairman of the Eurasian Economic Association, who hosted the forum, and executive Mr. Han listed as candidates. The special prosecutor believes that the stock price of Well Biotech surged as a forum organizer was listed as a candidate for internal director.
Meanwhile, the special prosecutor team has summoned and investigated Sambo Construction Chairman Lee Il-jun, former Chairman Jo Sung-ok, former CEO Jeong Chang-rae, CEO Oh Il-rok, and executives of the Eurasian Economic Association.

theknight@fnnews.com Jung Kyung-soo Reporter