Company Website Statement to Shareholders
"Sorry for Disappointment... Criticism Should Be Directed Only at Me"
Recently embroiled in an 'extramarital child controversy,' Seo Jung-jin, chairman of Celltrion, officially apologized to shareholders through the company's website.
On the 8th, Chairman Seo posted a statement titled "A Message to Shareholders" on the Celltrion homepage. In the statement, he opened by saying, "I sincerely apologize for causing great concern to our shareholders." He continued, "Although not everything reported in the media recently may be true, my past foolish and reckless actions have caused you irreparable disappointment. I will humbly accept any criticism from you without avoidance."
Seo Jung-jin, Chairman of Celltrion
Chairman Seo also requested, "I ask that the arrows of blame for my personal mistakes be directed solely at me." He added, "I earnestly ask our shareholders to look upon the company with a generous heart so that the employees and executives are not subjected to critical scrutiny."
Finally, he expressed his commitment, saying, "I will do my best to fulfill the responsibilities entrusted to me by the shareholders until the end, ensuring that the company's value is not damaged, and I will live the rest of my life with a humble attitude, deeply reflecting on myself." He once again bowed his head in apology, stating, "I sincerely apologize once more to the shareholders for causing concern with my shameful personal conduct."
Earlier, it was recently revealed that Seo’s two daughters born out of wedlock filed a paternity recognition lawsuit at the Suwon Family Court Seongnam Branch in 2021, and a settlement was reached in November of the same year, legally registering them as his daughters.
Their biological mother, Ms. A, claimed in an interview with the media that she met Chairman Seo, who had a family, in July 2001 and had children with him in a de facto marital relationship. She also stated that their relationship, which lasted over ten years, ended in 2012 when Seo’s side, facing difficulties in company management, urged him to leave the country.
Ms. A said, "Because the existence of the children could cause the company to collapse if revealed, I was told to keep quiet for the time being," and also mentioned that Seo did not act as a father to the daughters. Notably, the second daughter reportedly never met Seo for 11 years and filed a lawsuit seeking visitation rights against him.
In response, Chairman Seo’s side claims that he tried to care for the children, but the relationship broke down due to Ms. A’s unfaithfulness. They also rebutted that despite paying 28.8 billion won in child support, Ms. A continued to demand large sums of money, and have filed complaints against her at the Gangnam Police Station in Seoul for charges including extortion and defamation.
Regarding Chairman Seo’s statement, industry insiders analyze that it is intended to soothe investors who are concerned about potential inheritance disputes within the Celltrion owner family and changes in corporate governance following the extramarital child controversy.
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