Mr. Lim Chang-jeong, an investment consulting firm’s먹튀검증 CEO Ra Deok-yeon, a key figure in the SG Securities share price crash, has clarified his remarks about Mr. Ra, who compared him to a “religion”.

Mr. Lim attended a so-called “Jojo party” hosted by Mr. Ra in December 2022 and said, “Leave your money with that XX guy. It’s very religious,” and “You’re doing a good job, because that XX who took my money is great,” which seemed to be an invitation to invest.

On the 6th, MBC’s “PD Notebook” aired a segment in which Lim explained his remarks.

“It was a charity golf event where I mentioned Mr. Ra Deok-yeon,” Lim said in a written statement, “and there were many people at the event who had entrusted funds to Mr. Ra’s asset management company and received real returns, and they said that Mr. Ra was a great businessman and investor, so I only thought that Lim Chang-jung was like that.”

“He was in a position to receive investment and build an entertainment company that he was betting his life on, so he also wanted to look good to Mr. Ra. In this situation, Mr. Lim, who was handed the microphone as an invited guest, was swept up in the atmosphere and made exaggerated remarks in praise of Mr. Ra. “Although it is customary for a singer invited to an event to make friendly remarks about the organizers, Mr. Lim regrets and reflects on the exaggerated remarks he made at the time,” the company said.

Lim has been accused of participating in a stock market crash that wiped out more than 8 trillion won in market capitalization.