Seoul: The presidential office has announced plans to pursue legal action following the circulation of a fake statement attributed to President Lee Jae Myung. The office labeled the distribution of the false statement as a “very serious” crime.

According to Yonhap News Agency, the presidential office released a press notice confirming that President Lee never issued such a statement. The office emphasized that the information contained in the fabricated statement was entirely false.

The statement in question falsely claimed that President Lee had declared a “foreign exchange crisis” in the South Korean economy. It also alleged that he planned to increase the capital gains tax rate on foreign stock investments to 40 percent and introduce a new tax on stock holdings. The office has vowed to take strong legal action against those responsible for the creation and distribution of the fake statement.