[2020 National Audit] Yoon Seok-heon "Samsung Securities, 10 Billion Won Loan to Affiliate Executives... Will Investigate as Soon as Possible"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] Yoon Seokheon, Governor of the Financial Supervisory Service (FSS), stated on the 23rd that he would conduct an inspection as soon as possible regarding Samsung Securities' loans amounting to hundreds of billions of won to executives of its affiliates, and take action if any issues are found.

Governor Yoon made this remark during the comprehensive audit of the Financial Supervisory Service and the Financial Services Commission held at the National Assembly in Yeouido, Seoul. He responded to the Democratic Party lawmaker Park Yongjin's allegation that "Samsung Securities lent over 10 billion won to 13 registered executives of its affiliates from 2015 to the end of 2017."

Lawmaker Park Yongjin pointed out, "Samsung Securities lent 10 billion won to affiliate executives from 2015 to 2018, but the self-reported results hide and omit certain details. It is unclear whether this is an individual deviation by executives or an organized plan by Samsung Group, and there could be market disruption caused by large-scale illegal fund mobilization."

In response, Governor Yoon said, "They seem to have some kind of plan," and added, "We will check all the information that has come out and start the inspection as soon as possible."