[2020 National Audit] Eun Seong-su "Conveyed Concerns About Disbanding Joint Investigation Unit to Minister of Justice"

Eun Sung-soo, Chairman of the Financial Services Commission, is responding at the National Assembly's Political Affairs Committee audit held on the 12th. / Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kim Hyo-jin] Eun Sung-soo, Chairman of the Financial Services Commission, said on the 12th that he "expressed concerns to Minister of Justice Choo Mi-ae" regarding the Ministry of Justice's abolition of the Joint Securities Crime Investigation Unit (Hapsudan).

Chairman Eun made this remark during the National Assembly's Political Affairs Committee audit, responding to questions from Yoo Ui-dong, a member of the People Power Party, who asked, "Why have you not raised any voice against the abolition of Hapsudan?"

Chairman Eun stated, "When I met with the Minister of Justice, I expressed my concerns and conveyed the opinion that measures were necessary," adding, "I suggested that the organization related to capital market investigations should be strengthened."

He added that Minister Choo responded with "I understand" at that time.

However, Chairman Eun also said, "(The abolition of Hapsudan) is being done because the Ministry of Justice deemed it necessary, and it is not usual for other ministries to say it is insufficient," adding, "I have never received separate contact from the Blue House's Office of Civil Affairs or others."

Established in 2013 at the Seoul Southern District Prosecutors' Office, Hapsudan was known as the "Yeouido Grim Reaper" due to its efforts over six years, including detecting and prosecuting 965 offenders violating the Capital Markets Act. Amid this, controversies arose that the Ministry of Justice's decision to abolish Hapsudan hindered the prosecution's investigative momentum, especially following incidents like the Lime and Optimus scandals.

The Financial Services Commission formed the Capital Market Investigation Team in September 2013 to respond to illegal activities related to the capital market, investigating about 100 economic crimes annually and handing them over to Hapsudan. During this National Assembly audit, criticism was raised that the Financial Services Commission did not raise significant objections to the abolition of such an important unit as Hapsudan.

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