[2021 National Audit] Jeong Eun-bo "No FSC Investigation on Deutsche Motors Stock Manipulation"

Jeong Eun-bo, Governor of the Financial Supervisory Service, is attending the National Assembly's inspection of the Financial Supervisory Service held by the National Assembly's Political Affairs Committee on the 7th, providing a work report. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Park Ji-hwan] On the 7th, Jeong Eun-bo, Governor of the Financial Supervisory Service (FSS), stated regarding the allegations of stock price manipulation involving Deutsche Motors, linked to Kim Gun-hee, wife of former Prosecutor General Yoon Seok-yeol, "The FSS has never investigated the facts related to stock price manipulation."

On the same day, at the National Assembly's Political Affairs Committee audit, in response to a question from Kim Byung-wook, a member of the Democratic Party of Korea, who said, "A suspect related to the Deutsche Motors stock price manipulation case, involving Kim Gun-hee, wife of former Prosecutor General Yoon Seok-yeol, was arrested yesterday," and asked, "If the stock price manipulation is true, what charges would apply to Kim Gun-hee?" Jeong responded accordingly.

Jeong said, "We have not conducted an investigation on this matter, so it is difficult to answer what charges might apply without knowing the specific details."

Assemblyman Kim Byung-wook pointed out, "In 2014, the police reportedly sufficiently notified the FSS by phone regarding matters related to stock price manipulation," adding, "An internal investigation report was prepared at that time, and related matters were communicated to the FSS, yet the investigation was delayed, resulting in the suspect's belated arrest only after 10 years. The FSS bears significant responsibility for this outcome."

Jeong countered, "We did not receive any notification from the police," and said, "It is hard to accept the claim that the investigation was neglected without having received any notification."

However, Jeong emphasized that if requested by investigative authorities regarding the Deutsche Motors stock price manipulation allegations, the FSS would actively take necessary measures.

In response to a question from Kim Han-jung, a Democratic Party member, about the FSS's response to the Deutsche Motors stock price manipulation case, Jeong said, "It is difficult for the supervisory agency to conduct inspections while the police are carrying out a search and seizure," but added, "If cooperation from special judicial police or others is requested during the investigation, we will actively review and implement the necessary measures."

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