[2022 National Audit] Welfare Committee Comprehensive Audit, Controversy Over 'Baek Gyeongran Stocks' From the Start

[Image source=Yonhap News]

[Asia Economy Reporter Kim Young-won] Controversy over Baek Kyung-ran, Commissioner of the Korea Disease Control and Prevention Agency (KDCA), trading bio stocks was raised from the start of the National Assembly Health and Welfare Committee’s comprehensive audit.

On the 20th, during the comprehensive audit of the Health and Welfare Committee, Kang Hoon-sik, a member of the Democratic Party of Korea, said, "On the first day, as the first speaker, I requested the submission of Baek Kyung-ran Commissioner’s stock trading records, but even after three weeks, the submission has been refused until the last day of the audit." He added that suspicions regarding Baek’s stock trading have only intensified, pointing out ▲ that Syntekabio, one of the stocks held, participated in a national project worth 40 billion KRW, and ▲ that the Ministry of Personnel Management’s review of job relevance was halted after Baek sold her stocks.

Kang said, "It was concluded that two stocks held by (Commissioner Baek’s) spouse were related to her duties, and among them, Access Bio is a new stock not listed in the official gazette, raising questions whether it was purchased after her appointment as commissioner," adding, "At this point, she is not the Commissioner of the KDCA but the Commissioner of Stock Management."

Earlier, on the first day of the National Assembly audit targeting the Ministry of Health and Welfare and KDCA on the 5th, Kang also demanded Baek submit stock trading details from when she served as a private advisory member related to COVID-19. Baek responded, "These are not records from when I was a public official," and "I have never used internal information for personal gain."

Kim Won-i, also from the same party, demanded Baek submit stock-related documents. Kim requested submission of stock holdings and profit records over the past 10 years, the verification body at the time of Baek’s appointment, and personnel verification details regarding stock holdings. He emphasized, "We gave her an opportunity to explain during the audit period, and this is a very simple issue that would be resolved once the data is disclosed, but continuous refusal is unacceptable."

Earlier, in August, Baek disclosed in a high-ranking public official asset declaration that she held bio stocks including 30 shares of SK Bioscience, 25 shares of SK Biopharm, and 3,332 shares of Syntekabio, sparking conflict of interest controversy. Following criticism from the National Assembly and others, Baek announced on August 31 that she had sold the bio stocks she held.

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