Kim Se Eui, the operator of the YouTube channel Garosero Research Institute (HoverLab), has recently raised allegations that the talent agency Gold Medalist, home to actor Kim Soo Hyun, is linked to a major stock manipulation case involving the online education company Siwon School and an unnamed entertainment agency.

On April 11, during a live broadcast, Kim claimed that Gold Medalist was implicated in stock manipulation activities. His comments came in response to an April 10 report by KBS News, which revealed that Siwon School, a company listed on the KOSDAQ, was under investigation for suspected stock price rigging.

According to the KBS report, the stock price of the education firm, which had hovered around 1,000 KRW (about $0.7) three years ago, began to soar in July last year and peaked above 1,000 KRW (about $0.7) by April—marking a sevenfold increase in just nine months. However, the stock subsequently plummeted, returning to its original value within two months due to a concentrated sell-off on specific days.

The Financial Intelligence Unit (FIU) of the Financial Services Commission reportedly flagged suspicious price movements and notified police, who are now tracking the relevant trading accounts and the flow of illicit profits. The Korea Exchange also confirmed that the stock had exhibited abnormal trading patterns. The majority shareholder of Siwon School, holding over 50% of the shares, is said to be an investment consortium that includes Gold Medalist.

In response to KBS’s inquiries, a representative from Gold Medalist denied the allegations, stating that the company "had no involvement in the stock’s price movements."

Kim Se Eui also referenced the KBS report in his livestream, claiming that the office building associated with the entertainment company in question matched the location of Gold Medalist. He further noted that the stock of Gold&S Co. Ltd, a company jointly owned by Siwon School and Gold Medalist, had recently experienced a sharp decline.

Additionally, Kim pointed out that the late actress Kim Sae Ron, listed as a related party to Gold&S Co. Ltd, held 66,000 shares after reducing her stake by 34,000 shares. He alleged this connection demonstrated the closeness between Kim Sae Ron and Kim Soo Hyun, questioning why actress Seo Ye Ji, also previously affiliated with Gold Medalist, was not involved. "Was Kim Sae Ron used without her consent through identity misuse?" he asked.

Kim further claimed that director Ryu Tae Hyun, mentioned in relation to Gold&S Co. Ltd, had attempted to contact Kim Sae Ron’s father multiple times through calls and messages. These communications were previously revealed by Kim Se Eui and mentioned again during the livestream.

Founded on November 22, 2019, Gold Medalist is a management company led by CEO Ahn Seong Su and Chief Creative Officer (CCO) Lee Robe. The agency co-produced the 2020 tvN drama 'It's Okay to Not Be Okay' with Studio Dragon and Story TV, as well as the 2021 Coupang Play series 'One Ordinary Day' with The Studio M and Chorokbaem Media.

Lee Robe, the agency’s CCO and co-founder, also directed the film 'Real,' starring Kim Soo Hyun.

Lee’s name also surfaced during a press conference held on March 27 by Kim Sae Ron’s bereaved family, which revealed a handwritten letter she wrote to Kim Soo Hyun after reportedly losing contact with him following a legal notice. The letter, which was never delivered due to restricted access to Kim’s residence, included a line stating, “I hope you read this, not Robe.”

SEE ALSO: Kim Bo Ra writes heartfelt letter to late friend Kim Sae Ron