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Singer and actor Lee Seung-gi announced on April 29 that he will sever ties with his in-laws, following a new indictment of his father-in-law for alleged stock manipulation—an offense similar to one for which he had already been convicted.

In a statement released that day, Lee said, “Although my father-in-law had previously received a fine in a remanded trial over illegal activities that had been persistently raised, he has now been indicted again for similar violations. I am devastated. This incident has severely damaged the trust within our family to a point beyond repair. After long deliberation, my wife and I have decided to cut ties with her family.”

Lee also expressed regret for his previous public comments: “I deeply reflect on having made statements without fully examining the matter. I sincerely apologize to any victims who may have suffered due to my premature judgment.”

Lee, who married actress Lee Da-in—the daughter of veteran actress Kyeon Mi-ri—in 2023, has consistently defended his in-laws from public criticism over stock manipulation allegations, calling previous reports “clearly false.”

His father-in-law, Mr. Lee, who remarried Kyeon Mi-ri, was earlier indicted for artificially inflating the stock price of a KOSDAQ-listed company between 2014 and 2016 while serving as an executive, then selling off the shares for illegal profits. That case was sent back by the Supreme Court with a guilty verdict for retrial.