[Breaking] Kolon Life Science Executives Acquitted of 'Invossa Ingredient Manipulation' Charges

[Asia Economy Reporter Lim Juhyung] Executives of Kolon Life Science were indicted on charges of manipulating the components of the osteoarthritis gene therapy drug Invossa KJ (hereafter Invossa) and submitting false documents to authorities, but they were acquitted in the first trial.

The Criminal Division 25-3 of the Seoul Central District Court (Presiding Judges Kwon Seongsu, Kim Seonhee, and Im Jeongyeop) on the 19th acquitted Kolon Life Science director Cho and executive director Kim of charges including obstruction of official duties by deception, fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, and violation of the Subsidy Act.

However, Cho was found guilty only of bribery for giving approximately 2 million KRW to a Ministry of Food and Drug Safety official along with a request for convenience during the development process of Invossa, and was fined 5 million KRW.