Since taking office in June last year, Secretary-General Yoo Byung-ho, known as a powerful figure in the Board of Audit and Inspection, has led several politically sensitive audits, including the Seohae Civil Servant shooting incident and the audit of former Civil Rights Commission Chairman Jeon Hyun-hee.
What President Yu reacted sensitively to was the issue of stocks owned by his family. As revealed through public official asset disclosure data in September last year, the stocks held by Secretary-General Yoo’s spouse and children were worth about 2 billion won.
When the stock holding details were made public, the opposition party pushed Secretary-General Yoo.
The reason was that the children of Secretary-General Yoo, who led the audit of <Renewable Energy Project Promotion Status>, known as the ‘nuclear power plant phase-out audit’ during the last government, held shares of Doosan Energy, which can be said to be a ‘nuclear power plant beneficiary’.
Public officials of grade 1 or higher must sell the stocks or place them in a blind trust within two months if the value of stocks held by them or their family members exceeds 30 million won. This regulation applies to Secretary General Yoo Byung-ho, a vice-ministerial level public official.
However, if a public official determines that the stock is not related to his or her job, he or she may be exempted from the obligation to sell or blindly trust it through a review of job relevance by the Stock Blind Trust Committee.
■ Stock Trust Committee: “President Byung-ho Yoo’s family stocks are related to his job.” In
September of last year, Secretary General Yoo applied토토사이트 to the Stock Blank Trust Committee for review to see if they were related to his job.
And two months later, unexpected results emerged. This is because the job-relatedness of the pharmaceutical and bio-related stocks held by Secretary-General Yoo’s spouse, rather than the children’s nuclear power plant-related stocks, was recognized.
Secretary General Yoo chose ‘appeal’ and ‘administrative litigation’ instead of blind trust.
However, all of the spouses and children’s domestically listed stocks, including Doosan Energy, Samsung Electronics, and GC Cell, were sold.
■”Spouse’s stock is an unlisted bio stock… estimated to be worth about 10 billion won”
However, as a result of the administrative lawsuit that came out today, Secretary General Yoo was also defeated.
What kind of stock was it that made President Yoo want to continue holding the stock in his spouse’s name despite all the rumors?
President Yoo’s spouse, Mr. A, is known as a prominent researcher in the pharmaceutical and bio industry. Spouse A is said to have acquired shares of an unlisted foreign bio company through a kind of ‘stock option’ rather than making an ‘investment’.
In relation to this, President Yoo appeared at the National Assembly last February and said, “My wife should also be respected as a professional with property rights under the Constitution,” and “I cannot force it unconditionally, nor can the government force me to sell it unconditionally.”
It is known that Mr. A worked as a research director at GC Green Cross and retired early last year.
The stocks owned by Mr. A include GC Cell, Ativa Biotherapeutics, and Ducell Biotherapeutics, which are subsidiaries or related companies of the pharmaceutical company Green Cross. These are bio companies that mainly develop sample tests or gene-related treatments.
Secretary General Yoo Byung-ho reported three unlisted stocks in his spouse’s name worth about 800 million won. However, the actual value of the stock as estimated by the industry is much higher than the face value.
In particular, the securities industry estimates that Ativa Bio and Ducell Bio, which are involved in the development of new drugs such as ‘cell therapy’ in the United States, are worth more than 10 billion won based on the number of shares held.
■Secretary General, who supervises all audits… Widely recognized as being related to the job “It cannot be said that there is no possibility or risk of conflict,” the judge said, “and that job-relatedness is recognized under the Public Official Ethics Act.”
At the same time, he said, “As servants of the people, if there is a conflict between private and public interests, public officials have a duty to avoid conflicts of interest by giving priority to the latter.” He added, “Rather than leaving it to the conscience of each public official, there is a need for the state to institutionally guarantee it.” “Taking this into account, the defendant’s disposition is not illegal,” he said.
Since the Secretary General of the Board of Audit and Inspection oversees and approves all audits conducted by the Board of Audit and Inspection, the relevance of his duties is widely recognized.