Financial Supervisory Service Audit Turns into "Samo Fund" National Assembly Hearing... Full-Scale Offensive Scheduled for the 23rd

[Image source=Yonhap News]

[Asia Economy Reporter Park Ji-hwan] At the National Assembly's Financial Services Commission's audit of the Financial Supervisory Service (FSS), the suspension of redemptions by Lime and Optimus Asset Management emerged as the biggest issue.

According to the Financial Services Commission on the 14th, during the FSS audit held the previous day, intense questioning focused on the issue of incomplete sales by banks and securities firms selling Lime and Optimus products, as well as the supervisory authority's responsibility. In particular, the opposition party labeled this incident as a "power-corruption gate" and criticized the FSS for inadequate system operation, which exacerbated investor damages.

There was continued probing into why the financial authorities failed to prevent the Lime and Optimus incidents, which are surrounded by allegations of lobbying in political and government circles, and whether there was any external pressure from higher-ups. Yoon Jae-ok, a member of the People Power Party, criticized, "Isn't it because a Blue House official was involved that the FSS's supervisory function did not operate properly?" In response, FSS Governor Yoon Seok-heon denied, stating, "In performing supervisory duties, we are not influenced at all beyond what is necessary for work or required by law."

The voices of private equity fund victims who appeared as witnesses were also strong. They expressed their grievances over losses amounting to hundreds of millions of won due to large-scale redemption delays. They also pointed out the irresponsible follow-up actions by financial companies after the suspension of redemptions. Kwon Hyuk-kwan, a representative of Optimus fund victims, criticized, "Although it is the same product, Korea Investment & Securities provides about 90% preliminary compensation without special conditions, whereas NH Investment & Securities only offers emergency loans with various deadlines and conditions," adding, "If these loans are not repaid on time, statutory delayed interest must be paid."

A full-scale offensive is also expected at the comprehensive audit of the Financial Services Commission and the FSS scheduled for the 23rd. Notably, Lee, a former administrative officer of the Blue House Civil Affairs Secretary's Office and a key figure in the Optimus incident, has been selected as a witness. Lee is suspected of holding 9.85% of Optimus shares as the spouse of Yoon, a lawyer and business partner of Optimus CEO Kim Jae-hyun, and entrusting them under a borrowed name to Kim's secretary. Lee previously served as an administrative adjudicator at the Blue House National Security Office and also worked in the Civil Affairs Secretary's Office during the Moon Jae-in administration.

This content was produced with the assistance of AI translation services.