K-idol Lee Seung-gi cuts ties with in-laws over alleged stock manipulation
South Korean heart-throb Lee Seung-gi has severed ties with his in-laws after his father-in-law has once again been suspected to be involved in manipulating stock prices.
The 38-year-old singer-actor tied the knot with South Korean actress Lee Da-in, 32, in April 2023. They welcomed their first child, a girl, in February 2024.
Some of Lee Seung-gi's fans had objected to the marriage, fearing that his clean-cut image would be affected, as Lee Da-in's family was allegedly involved in a financial scandal.
Her mother is veteran actress Kyeon Mi-ri and her stepfather is businessman Lee Hong-heon. Kyeon, 60, is best known for her role as the antagonist Lady Choi in the hit period drama Jewel In The Palace (2003 to 2004).
According to South Korean media, Lee Hong-heon was charged in 2016 with manipulating the stock prices of a listed company between 2014 and 2016. He was sentenced to four years' jail and fined 2.5 billion won (S$2.2 million) in 2018. South Korean entertainment news site Soompi said Kyeon was a major shareholder of the company.
Lee Hong-heon was acquitted by an appellate court in 2019, but the South Korean Supreme Court overturned the ruling in June 2024 and sent the case back for retrial. He was arrested recently for alleged involvement in stock price manipulation related to a renewable energy company, South Korean online news outlet Chosun Biz reported on April 29.
'My father-in-law was fined in a trial on allegations of illegal activities that had been continuously raised against him, but recently, he has been indicted by the authorities again over similar illegal acts,' Lee Seung-gi said in a press statement released through his agency Big Planet Made on April 29.
'As someone who has waited for the outcome based on trust between family members, I am devastated about my father-in-law's misconduct.'
Referring to past statements he had made in defence of his father-in-law, he said: 'I deeply regret the careless remarks I made last year without sufficiently reviewing the matter related to my father-in-law.
'I believe that appropriate punishment must be given for illegal acts, and I sincerely apologise to the victims who suffered due to my hasty judgment.'
The actor, who has starred in K-dramas such as Mouse (2021) and The Law Cafe (2022), added: 'The trust between the family members has been damaged to such a level that it is difficult to restore, due to this incident.
'After much deliberation, my wife and I have decided to cut ties with my in-laws. I once again bow and apologise for causing concern and disappointment due to my personal matters. '
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