Kim Gun-hee Special Prosecutor, 'Sambu Construction Stock Manipulation Allegation' Raids 10 Places Including Well Biotech

[Financial News] Kim Gun-hee Special Prosecutor Team (Min Jung-gi Special Prosecutor) has launched a forced investigation into Well Biotech and others related to the 'Sambu Construction Stock Manipulation Allegation'.
The special prosecutor team began raids on 10 locations, including the headquarters of Well Biotech located in Gangnam-gu, Seoul, its subsidiaries, related companies, and the residences of suspects from the morning of the 21st.
Well Biotech is a company that attended the Ukraine Reconstruction Forum held in Poland in May 2023, and its stock price surged as it was grouped with Sambu Construction around the same time as a Ukraine reconstruction stock.
Well Biotech, where Lee Il-jun, the chairman of Sambu Construction, is the largest shareholder, announced a shareholders' meeting to appoint an internal director ten days before the Ukraine Reconstruction Forum was held. Yang Yong-ho, the chairman of the Eurasian Economic Association, who hosted the forum, and an executive named Han Mo were listed as candidates for internal directors. The special prosecutor believes that the stock price of Well Biotech surged as the forum organizer was listed as a candidate for internal director.
The special prosecutor team has successfully detained Lee Il-jung, the chairman of Sambu Construction, and Lee Eung-geun, the former representative of Sambu Construction, and is pursuing the fugitive vice chairman Lee Ki-hoon of Sambu Construction. The vice chairman also served as the chairman of Well Biotech. Last month, on the 13th, the special prosecutor team summoned former Well Biotech representative Gu Se-hyun and the vice chairman for investigation.
Chae Sang-byeong's special prosecutor team confirmed that the spouse of Lee Jong-ho, the former representative of Black Pearl Investment, realized a profit of 20 million won by using Well Biotech stocks. Accordingly, Kim Gun-hee's special prosecutor team is also looking into whether Well Biotech was used for stock manipulation.
Moreover, as the ruling party, including the Democratic Party, recently claimed that Well Biotech is the core of stock manipulation, the special prosecutor is accelerating the forced investigation. The special prosecutor team plans to confirm whether Kim Gun-hee was involved through this raid.

theknight@fnnews.com Jung Kyung-soo Reporter