Prosecutors Indict Lee Choon-sik Without Detention for Trading Stocks Using Aide’s Account

Violation of Blind Trust Obligation
Received 29 Million Won in Gift Money for Family Events

Independent lawmaker Lee Choon-sik has been indicted for trading stocks using an aide’s account and failing to fulfill the blind trust obligation.

Seoul Southern District Prosecutors' Office. Photo by Jiye Lee

The Seoul Southern District Prosecutors' Office's Financial Investigation Division 2 (Chief Prosecutor Kim Tae-gyeom) announced on September 8, 2026, that Lee was indicted without detention on charges including violations of the Real Name Financial Transactions Act, the Electronic Financial Transactions Act, and the Anti-Graft Act.

An aide, referred to as Person A, who lent Lee his securities account and mobile phone, and a senior secretary, referred to as Person B, who destroyed evidence at the direction of Lee, were also indicted without detention. Additionally, four acquaintances who gave Lee monetary gifts for events in excess of the legal limit were prosecuted.

According to prosecutors, Lee, who was a member of the National Assembly for the Democratic Party of Korea, received a mobile phone with a securities app and passwords from Person A in March 2020 and again in June 2024 after taking office as a member of the 22nd National Assembly. Lee is accused of using Person A’s securities account to trade stocks.

During this process, it was found that Lee held stocks exceeding 30 million won in a borrowed-name account, but failed to sell or place the stocks in a blind trust within the legally mandated period. In 2021, during his tenure as Secretary General of the National Assembly, Lee reportedly received a total of 29 million won from four acquaintances on the occasions of his mother’s funeral and his daughter’s wedding.

Prosecutors also confirmed circumstances suggesting destruction of evidence. In August of last year, as suspicions arose that Lee had traded shares of an artificial intelligence (AI)-related company using information obtained while working as the Head of the Economy Division 2 of the State Affairs Planning Advisory Committee, Person A instructed Person B to destroy documents and remove a laptop from the office to destroy or conceal evidence.

However, the charge of using undisclosed material information under the Capital Markets Act was not included in the indictment against Lee. After the police decided not to refer the case on this charge and the prosecution requested a reinvestigation, the records were re-examined, but prosecutors deemed the police’s decision appropriate and returned the case file.

A prosecution official stated, “We will make every effort to maintain the indictment against the defendants going forward.”

This content was produced with the assistance of AI translation services.