'Optimus No Charges' Jung Young-chae, President of NH Investment & Securities, "Time Will Tell"

Jung Young-chae, CEO of NH Investment & Securities, appeared as a witness at the National Assembly's Financial Services Commission hearing on the Financial Supervisory Service and is responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Lee Seon-ae] Jung Young-chae, CEO of NH Investment & Securities, expressed his feelings on the 20th regarding the notification of non-indictment he received from the Seoul Central District Prosecutors' Office concerning the Optimus-related fraud and breach of trust accusations. As this statement comes ahead of the company's regular personnel appointments and his own decision on whether to continue in his position, market attention is focused on his potential reappointment.

On that day, CEO Jung posted on his Facebook, "I have received a notification of non-indictment from the Seoul Central District Prosecutors' Office regarding the Optimus-related fraud and breach of trust accusations," and mentioned, "Our company and I have spent nearly one and a half years of lost time due to the Ponzi scheme (circular borrowing) fraud operation case of Optimus Asset Management."

He added, "Although we have settled by paying 278 billion KRW to general investors, there is still a long way to go with professional investors, the trustee bank (Hana Bank), the administrative trustee (Korea Securities Depository), and regulatory authorities," and said, "Since our company filed a complaint against Optimus officials with the Seoul Central District Prosecutors' Office in June last year, for some reason, we have faced many suspicious glances and criticisms from the National Assembly and the media based on completely false information."

He continued, "Personally, overcoming anxiety and fear, I voluntarily submitted all the mobile phones I have used since 2017 to the prosecution last October to dispel all suspicions about myself and our company," emphasizing, "It would be a lie to say I have never done anything shameful in life, but that is not the case with the Optimus matter."

CEO Jung stated, "At least the investigative authorities, who base their work on facts, have confirmed many things through forensic (scientific investigation) methods, and it has come to this point today," and wrote, "It may seem that the market is powerless now, but I believe time will tell the truth."

Meanwhile, NH Investment & Securities is scheduled to announce its regular executive personnel appointments and organizational restructuring this week. CEO Jung's term expires in March next year. The decision on his reappointment will be made at the upcoming regular board meeting.

Despite the company's steady performance growth, the Optimus incident has been considered the biggest obstacle to his reappointment. In the industry, since CEO Jung unusually revealed his feelings, there is speculation that the possibility of his reappointment is high.

Previously, regarding reappointment, CEO Jung responded, "I have no thoughts about reappointment. I will follow the shareholders' wishes regarding my future position."

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