Lee Seung Gi Cuts Ties With In-Laws Over Wife's Stepfather's Stock Manipulation Scandal

Lee Seung Gi, the renowned South Korean celebrity, stated that he has cut off relations with his in-laws following new allegations of stock manipulation involving his wife’s stepfather, Lee Hong Heon. This is not the first time Lee Hong Heon has faced such accusations.

South Korean star Lee Seung Gi. Image sourced from Lee Seung Gi's Instagram.

According to The Star , Lee Seung Gi issued a press release, voicing his dismay over the allegations against his wife’s stepfather.

The statement mentioned that my father-in-law faced fines during a trial due to persistent accusations of unlawful behavior, yet he has now been charged once more by the authorities for comparable violations," it stated. "Having awaited the verdict with familial faith, I am deeply disheartened by his unethical conduct.

Lee Seung Gi similarly assumed accountability for his previous statements supporting his father-in-law, admitting that he had spoken out without thoroughly examining the circumstances.

I profoundly regret the thoughtless comments I made last year regarding my father-in-law without adequate investigation," he confessed. "I stand firm in believing that proper consequences should be applied to unlawful actions, and I genuinely offer my apologies to those who endured harm because of my rushed assessment.

He stated that his spouse, Lee Da In, had similarly chosen to sever relations with her family as a result of the irrevocable harm brought about by the scandal.

“The bond of trust among the family members has been irrevocably harmed because of this event,” he stated. “Following considerable discussion, my spouse and I have chosen to sever our connections with my relatives. Once more, I humbly bow and apologize for instigating worry and dissatisfaction through my private issues.”

The ruling follows fresh accusations against Lee Hong Heon, a businessperson who had earlier been found guilty of orchestrating stock price manipulations. Back in 2016, Lee Hong Heon faced charges related to stock price rigging from 2014 through 2016; consequently, he received a four-year jail term as well as a penalty of 2.5 billion won (approximately US$1.8 million). Nonetheless, his conviction was annulled by an appeals court in 2019. Recently, in June 2024, the South Korean Supreme Court set aside this overturning, directing that the matter be reconsidered.

Lee Hong Heon was arrested again last month, this time in connection with alleged stock manipulation in the renewable energy sector.

Lee Seung Gi, at age 38, stands as one of South Korea's most highly compensated stars. Throughout his career, he has been honored with various accolades such as a Golden Disc Award for his musical contributions and a Baeksang Arts Award for his performances in television dramas. Additionally, he frequently makes an appearance on Forbes Korea’s Power Celebrity 40 list; notably, he was placed sixth in 2022.

In April 2023, Lee Seung Gi tied the knot with actress Lee Da In, who is 33 years old. The pair celebrated the birth of their first child, a baby girl, in February 2024.

Lee Da In is the offspring of actress Kyeon Mi Ri, famous for her performance in the popular television show "Jewel in the Palace." Kyeon has encountered scandals before; notably, she was looked into for alleged stock manipulation back in 2009.