Sanghyeok Lee’s main areas of practice include responding to examinations and investigations into unfair trading in stocks and virtual assets, responding to accounting fraud investigations and accounting audits, providing compliance advice on anti-money laundering, responding to inspections and sanctions on financial institutions, and providing advice on virtual assets.

Mr. Lee graduated from Korea University’s Department of Business Administration and Seoul National University School of Law. He is also an accountant with extensive financial statement and data analytics skills. In particular, he demonstrates outstanding capabilities in handling cases on unfair capital market transactions such as price manipulation and use of undisclosed information related to stock/virtual asset transactions.

Response to Examination and Investigation of Unfair Trading in Stocks and Virtual Assets

• Advised on response to the investigation into the allegation of market price manipulation during the M&A process with global entertainment company S.
• Advised on response to the investigation into the allegation of market price manipulation in the process of converting KOSPI-listed Company H into a holding company.
• Advised on response to the investigation into the alleged use of undisclosed information by an employee of a financial company.
• Advised on response to the investigation into the allegation of market price manipulation by individual investors who operated a stock investment cafe.
• Advised on response to investigation into the allegation of market price manipulation related to individual investors’ trading of KONEX Stocks.
• Advised on response to the investigation into the allegation of market price manipulation by individual investors in the short-term stock trading.
• Advised on response to investigation related to Terra and Luna against Blockchain Investment Company H.
• Advised on response to investigation into joint art investment P-coins.

Response to Accounting Fraud Investigation and Accounting Supervision

• Advised on investigation into unfair accounting related to embezzlement of hundreds of billions of Korean Won by financial staff of KOSPI-listed Company S.
• Advised on investigation of accounting fraud related to embezzlement and misappropriation by CEO of KOSDAQ-listed Company P.
• Advised on response to the investigation into the insolvency audit of large accounting firm Company E.

Advice on Compliance with Anti-Money Laundering

• Advised large virtual asset exchange firm Company B on anti-money laundering system.
• Advised Company K, Korea’s largest casino company, on independent anti-money laundering audit.

Response to Financial Institution Inspection and Sanctions

• Advised on response to FSS inspection and sanctions on Bank W for an embezzlement incident.
• Advised on response to FSC’s sanctions on foreign securities firm Company E for violation of regulations on short sale prohibition.
• Advised on response to the Exchange’s supervision on domestic securities firm Company D for violation of regulations on short sale prohibition.
• Advised on response to the Exchange’s supervision on domestic securities firm Company E for violation of regulations on short sale prohibition.

Advice on Virtual Assets

• Advised the Bank of Korea on CBDC tests.
• Advised multiple virtual asset service providers on the review of securities nature of virtual assets.