April 20, 2024

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[THE INVSETOR] Police are seeking the man believed to have first spread the rumor of Samsung Electronics Chairman Lee Kun-hee’s death in June, in violation of financial transaction and telecommunication laws.

The Seoul Metropolitan Police Agency said on Aug. 25 the 30-year-old man, surnamed Choi, was put on a wanted list. He is currently in the US, they said.

Choi is suspected of putting a post on the far-right online community Ilbe on June 29, saying the Samsung patriarch passed away earlier in the morning. The rumor quickly spread to other online communities, elevating share prices of Samsung companies, especially those linked to the group’s succession process. 

Samsung Group Chairman Lee Kun-hee (right) and his son Lee Jae-yong (left)

But Samsung immediately denied the rumor, reporting the case to police. 

Related article : 
Samsung denies rumors of chairman’s death

Considering Choi had uploaded Samsung’s stock price charts months before posting the memo, police are also looking into whether he was involved in a profit-taking scam among investors.

By Lee Ji-yoon (jylee@heraldcorp.com)