Go Seung-beom "Celltrion audit in progress... will discuss further later"

Rebuttal to Reports on Starting Virtual Currency Legislation: "Nothing Decided Yet"

Financial Services Commission Chairman Ko Seung-beom is attending the meeting of related ministers to inspect the real estate market held at the Government Seoul Office in Jongno-gu, Seoul on the 17th. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Jin-ho] Ko Seung-beom, Chairman of the Financial Services Commission, stated on the 23rd that the supervisory review process has resumed regarding Celltrion's violation of accounting standards, saying, "The supervisory review procedure is ongoing."

After attending the '20th Anniversary of the Financial Intelligence Unit (FIU)' and the '15th Anti-Money Laundering Day' event held at Lotte Hotel in Sogong-dong, Seoul, Ko told reporters, "Since it is being discussed at the supervisory committee, there is nothing more to say," adding, "We will discuss it further going forward."

Earlier that morning, according to a media report, the supervisory committee, an accounting advisory body under the Financial Services Commission, has recently begun reviewing the supervisory measures for the three companies in the Celltrion Group by the Financial Supervisory Service. Following this, Celltrion closed the trading day at 211,500 KRW, down 6% from the previous trading day. Celltrion Healthcare and Celltrion Pharm also closed down 5.58% and 5.9%, respectively. The sharp decline was due to concerns over regulatory sanctions by financial authorities.

Earlier that morning, Jeong Eun-bo, Governor of the Financial Supervisory Service, who held a meeting with securities company CEOs, also said, "The supervisory committee is discussing related matters," adding, "It is not appropriate to mention specific details."

Regarding media reports that the Financial Services Commission has started legislative work on virtual currency, Chairman Ko dismissed them, saying, "Nothing has been decided." He explained, "Since it is at the stage of discussion in the National Assembly, speculative articles seem to be appearing," and added, "As it is at the stage of the bill subcommittee discussions, various directions are being reviewed and discussions are ongoing." He also drew a line on reports that the government and ruling party are pushing for an independent supervisory body related to virtual currency, saying, "Nothing has been finalized."

When asked about the timing of measures for ultra-high-priced jeonse loans, he replied, "It is still under review," adding, "Nothing has been decided yet on when or how, so please wait a little longer."