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Dauk-rae Dowkium, whom CEO Ra Duk-yeon identified as the mastermind behind the incident, has announced that he will step down as chairman. He said he was not legally responsible, but he would return the 6 billion won from the controversial stock sale to society.

This is a report by reporter Jeong Jung-hyun.

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Daukium Group Chairman Kim Ik-rae, who suddenly called a press conference late in the afternoon of
today (4th), bowed his head, saying that he was sorry for causing a social scandal.

[Kim Ik-rae/Chairman of Dow Kiwoom Group: As a businessman who requires a high level of moral responsibility, as the chairman of a group, I apologize for causing a social scandal.]

He stepped down from management and said he would return the proceeds from the controversial sale of shares to society.

[Kim Ik-rae/Chairman of Dow Kiwoom Group: I would like to resign as Chairman and Chairman of the Board of Directors of Kiwoom Securities and return the proceeds from the sale of Dow Data shares to society.]

He said he would work diligently on the investigation by the financial authorities and the prosecutor's office, but emphasized that there are no legal problems, and he called Mr. Radeok-yeon's recent allegations aimed at him malicious.



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[Kim Ik-rae/Chairman of Dow Kiwoom Group: I tried to provide objective data on the malicious allegations made about my recent stock sale, but the controversy continues.]

Earlier, CEO Ra Duk-yeon claimed that Chairman Kim, who sold 600 billion won worth of Dow Data stock just before the crash, was behind the incident.

[Representative Ra Deok-yeon: We only have 100 billion won to pay transfer tax (gift tax), but why are we selling 600 billion won here? The foreigner who bought (the stock) hit the massive sell-off, and the next day there was a crash. It's weird under the circumstances.]

It seems that the truth between the two men will be obscured by the results of the FSC prosecution and the prosecutor's investigation into Kiwoom Securities.

(Video Interview: Kang Dong-chul, Video Editing: Lee So-young)

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