Targeting Korea Exchange and Korea Securities Depository
Opposition Party: "Leisure Trips at End of Term, Voluntary Resignation Needed"
The Financial Services Commission has launched an ex officio investigation into allegations of "overseas trips for leisure" by auditors of its affiliated public institutions.
According to the financial investment industry on August 25, the Financial Services Commission began a two-day review of detailed itineraries and expense records for all affiliated institutions that participated in the "World Auditors Conference" held in Toronto, Canada last month. The investigation reportedly includes institutions such as the Korea Exchange and the Korea Securities Depository.
An official from one of the institutions under investigation stated, "Our representatives did not participate in any sightseeing activities and only attended the official academic conference programs," adding, "We believe there are no issues, but we will cooperate fully with the Financial Services Commission's investigation."
The controversy arose after it was reported that, during the World Auditors Conference held in Toronto last month, some standing auditors from domestic institutions visited tourist attractions such as Niagara Falls, a whiskey distillery, and an outlet mall, separately from the official schedule.
The Democratic Party of Korea criticized the auditors, pointing out that they were appointed during the Yoon Suk Yeol administration and stating, "They went on overseas trips for leisure at taxpayers' expense just before the end of their terms." The party also called for their voluntary resignation.
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