Public Shows No Sympathy for Lim Chang-jung's Misfortune
In a capitalist society, everyone pursues the same goal: to maximize profit with minimal investment. Even if the outcome seems unreasonably favorable, people tend to attribute it to good luck. Unfortunately, most fail to anticipate the reverse situation - losing a significant amount of money.
On the 24th, a massive sell-off of stocks including Seoul Gas, Samchully, Seonkwang, and Daou Data via the foreign securities firm Societe Generale (SG) resulted in a stock market crash. This incident, known as the 'SG Securities Stock Crash', has led to an investigation by the prosecution and financial authorities due to suspicions of price manipulation. The central figures suspected of orchestrating this crash are currently under arrest.
The suspects allegedly manipulated stock prices and made a substantial profit by buying and selling stocks on investors' mobile phones, a method known as 'jungjeong trade'. Notably, among the investors in SG are several celebrities, including actor and singer Li Chang-jung. According to Im, who voiced his grievances, the crash has resulted in losses amounting to billions of won.
However, the public doesn't seem to empathize with Lim's plight. This is largely due to the fact that Im had been involved in entertainment businesses with one of the key figures in this scandal and had attended investor meetings organized by the accused. There are suspicions that he may have also participated in their illegal activities.
When making tremendous profits, no one questioned the situation. But now, as the illegal activity comes to light and significant losses are incurred, the public questions whether these figures are trying to escape the consequences and portray themselves as victims. Although Lim claims his innocence and insists he's a victim as well, the franchise he created is distancing itself from his name, and the soju product 'Soju Hanjan' that he developed is expected to halt sales. The negative public sentiment is also affecting his performances and events.
The public's affection for Lim Chang-jung was rooted in his authentic, cheerful, and sincere persona, just like the rustic tone of his hit song 'Soju Hanjan'. The revelation that he might have been involved in unethical and illegal activities to chase money is not just shocking but also feels like a betrayal. Even though the controversy hasn't been fully unraveled, the public's perception is undoubtedly critical.
In Lim's shoes, who could resist a golden opportunity, even if it came from an immoral and abnormal source? It's easy to turn a blind eye in the face of potential gains. What's problematic, however, is that Im, as a celebrity, wields considerable influence over many people.
The strategy employed by the main orchestrators of the SG Securities Stock Crash was to exploit such trust. They roped in well-known, trusted figures to convince others that if these figures were investing, it was safe for them to do so too. Whether it was ignorance or a hint of intention, it's clear that Im's blinding desire for profit allowed his influence to be misused, leading to countless victims. Regardless of the findings of the financial authorities' investigation, the wave of public criticism he's facing is a price he must pay.
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