South Korean actor Lee Seung-gi cuts ties with father-in-law, following latter's arrest for alleged stock manipulation
South Korean actor-singer Lee Seung-gi, 38, announced on Tuesday (Apr 29) that he and his wife Lee Da-in have severed ties with the latter's family, following the arrest of Lee Da-in's father, Lee Hong-heon.
On Tuesday morning, it was reported that Lee Hong-heon had been arrested for his alleged involvement in the stock manipulation of the renewable energy company Quantapia and for violating the Capital Markets Act.
Lee Hong-heon was previously on trial for artificially inflating stock prices, and in 2018, he was sentenced to four years in prison and a fine of 2.5 billion won (US$1.75 million). However, Lee was acquitted the following year after filing an appeal.
The appeal was overturned in 2024 by South Korea's Supreme Court.
Following Lee Hong-heon's arrest on Tuesday, Lee Seung-gi issued a statement, via his agency, apologising for past remarks in which he defended his father-in-law.
"Although my father-in-law was previously sentenced to a fine in the ongoing allegations of illegal conduct, he has recently been indicted again by authorities for similar unlawful acts. As someone who had been waiting for the outcome based on family trust, I am devastated by my father-in-law's misconduct," said Lee.
"I deeply regret speaking carelessly last year without fully reviewing the issues related to my father-in-law. I believe that any illegal actions must be justly punished, and I sincerely apologise to the victims who may have suffered because of my rash judgement."
Lee added that the incident had "severely damaged the trust within the family to an irreparable degree".
"After much deliberation, my wife and I have decided to sever ties with my in-laws. From now on, I will live with sound values and contribute to a healthy society. Once again, I bow my head in apology for causing concern and disappointment over this personal matter."
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