Pharmaceutical Company CEO Files Complaints Against Over 10 People for 'Insult Charges'
"Recidivism Must Be Prevented... Non-Punitive Measures Like Community Service Orders Needed"
[Asia Economy Reporter Jang Sehee] A man in his 40s who posted malicious comments targeting the CEO of a company he had invested in was eventually handed over to the prosecution.
On the 4th, according to a comprehensive report by Asia Economy, the Pyeongtaek Police Station in Gyeonggi Province sent a man in his early 40s, Mr. A, to the Suwon District Prosecutors' Office Pyeongtaek Branch on the 18th of last month on charges of insult.
Mr. A is accused of posting malicious comments targeting the CEO of the pharmaceutical company ‘IQor’ in which he had invested in stocks. The posts reportedly included comments such as “Chicken-brained 000, we need to break your neck for a bright morning for our shareholders,” “Stock manipulation only for 00 and loan sharks,” and “Wash trading.”
During the police investigation, Mr. A reportedly stated that he posted the comments to criticize the sharp decline in the stock price of IQor, in which he was a shareholder, resulting in losses. Currently, IQor’s stock price has dropped to around 12,000 won, nearly 20,000 won lower than last November (30,000 to 40,000 won range).
The CEO of IQor filed complaints with the Gangnam Police Station in Seoul in February against about ten people on charges of insult and violation of the Act on Promotion of Information and Communications Network Utilization and Information Protection (defamation). Subsequently, the Gangnam Police Station transferred the cases to the respective police stations with jurisdiction over the accused individuals’ residences. IQor is a bio-pharmaceutical company engaged in research, development, and production of pharmaceuticals and cosmetics.
Initially, IQor filed complaints against Mr. A on charges of insult and violation of the Act on Promotion of Information and Communications Network Utilization and Information Protection (defamation), but the police confirmed that only the insult charge was applied. This was because the CEO’s real name was mentioned, making the identification specific, and there were contemptuous expressions that could degrade the victim’s social evaluation. However, since it was difficult to see the intent to slander, the defamation charge was not applied.
With the prolonged impact of COVID-19, online communication has increased, and cyber defamation and insult crimes appear to be rapidly rising. Investigating officers at frontline police stations in Seoul stated, “Recently, in addition to slandering the companies and CEOs they have invested in, many people post abusive comments on YouTube and personal blogs,” adding, “Complaints and accusations related to this are also increasing.” In fact, cyber defamation and insult crimes reached 19,388 cases in 2020, an increase of 7,756 cases in one year.
In this regard, Professor Kim Do-woo of the Department of Police Science at Gyeongnam University analyzed, “Many people post malicious comments recklessly, believing in anonymity in cyberspace,” and “This occurs because the awareness that it is a crime is very weak.” He advised, “First-time offenders receive fines or suspended sentences, but there must be punishments corresponding to their actions,” and added, “It is necessary to consider non-punitive factors such as community service orders to prevent recidivism.”
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