Criticism has emerged that the Democratic Party of Korea is ignoring the damages suffered by small shareholders and the protection of the whistleblower’s identity in relation to suspicions that Minister of Justice nominee Kim Seung-won lobbied the Ministry of Food and Drug Safety in 2021 for the approval of clinical trials for Genencell’s COVID-19 treatment. This is because the Democratic Party, in an attempt to prevent Kim’s downfall, is engaging in actions that contradict its usual emphasis on “protecting the vulnerable” and “protecting public interest whistleblowers.”
Silence on Claims of Damages by Individual Investors
On the 11th, in the office of People Power Party Rep. Park Jeong-hoon on the 10th floor of the National Assembly Members’ Office Building, small shareholders claiming damages from stock price manipulation related to suspicions of “COVID-19 new drug lobbying” by Minister of Justice nominee Kim Seung-won held a press conference. The press conference, proposed by Rep. Park, was held behind a partition inside the office. Regarding the reason for the partition, the office staff said, “If their identities are exposed, they could be attacked by supporters of the ruling party.” The small shareholders stated, “We purchased shares of Sejong Medical, the largest shareholder of Genencell, on October 2021, expecting the development of a COVID-19 treatment, but there were suspicious circumstances suggesting undisclosed information trading and stock price manipulation...
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