Jung Eunkyung, nominee for Minister of Health and Welfare, actively addressed suspicions regarding her spouse's investment in so-called "COVID-19 beneficiary stocks" and allegations of violating the Farmland Act at the confirmation hearing on the 18th. However, she stated, "I humbly accept the criticism that my actions did not meet the public's expectations."
Jung Eunkyung, nominee for Minister of Health and Welfare, is taking the oath at the confirmation hearing held by the National Assembly's Health and Welfare Committee on the 18th. Photo by Kim Hyunmin
Jung responded to related questions in this manner during the National Assembly confirmation hearing that day.
Jung is facing suspicions that her spouse held shares in Changhae Ethanol and other stocks related to COVID-19 while she served as Director of the Korea Centers for Disease Control and Prevention and Commissioner of the Korea Disease Control and Prevention Agency during the COVID-19 pandemic. Regarding these suspicions, Jung previously explained in a written Q&A submitted before the hearing, "My spouse already owned 3,868 shares of Changhae Ethanol before the COVID-19 outbreak. In addition, a total of 1,132 more shares were purchased in two transactions in October 2020 and July 2021, but these were ordinary stock transactions for long-term holding."
At the hearing, Jung further stated, "I apologize for not more carefully examining whether there were any conflicts of interest related to the stock investments." However, she emphasized, "There was no short-term trading, and it is clearly not true that we made any significant capital gains."
She added, "I have known Changhae Ethanol as a distillery company since 2016 and continued to hold the stock for the long term. I heard that the purchase was made because of dividends, but there has been no realization of profit through selling the stock." She continued, "In 2017, the Ministry of Personnel Management reviewed the relevance of my duties and notified me that there was no connection."
Regarding the point that Changhae Ethanol is linked to hand sanitizers, she explained, "I was not aware at the time that this company expanded its business purpose to include hand sanitizers during the COVID-19 outbreak in 2020."
She also emphasized, "As a high-ranking public official, I have transparently reported my assets every year and disclosed them publicly through the official gazette. Going forward, I will never engage in any investments or transactions that could result in a conflict of interest."
Concerning suspicions of violating the Farmland Act regarding whether actual farming took place on farmland owned by her spouse in Pyeongchang, she explained, "My husband became acquainted with someone while serving as a public health doctor in the late 1980s, and for nearly 30 years, we have farmed together with that acquaintance and their family." She added, "Depending on the situation, we might have gone often or less frequently, but we always aimed to farm together and pursued eco-friendly or self-sufficient farming."
She said, "I humbly accept the criticism that (the stock investments, etc.) did not meet the public's expectations, and I apologize for any concerns raised about whether we diligently engaged in farming."
She continued, "During the spread of COVID-19, I believe I was unable to see my family for a long time. My husband made efforts not to invest in any bio-related stocks because his wife was a public official, and we did not discuss work or stocks with each other."
When asked whether she would continue farming after being appointed minister, she replied, "I will work with my husband to find a way to ensure that there are no legal violations."
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