The People Power Party said on the 29th that Board of Audit and Inspection chief nominee Kim Ho-cheol received 24 million won while serving as an outside advisory committee member for SK hynix in 2014–2015. The People Power Party also said that Kim "was found to also hold SK hynix shares," adding, "Explain how they were acquired."
The National Assembly held a confirmation hearing for Kim on the 29th. Kim is a 20th class graduate of the Judicial Research and Training Institute and a former head of the Lawyers for a Democratic Society (Minbyun). He also served as co-chair of the Korean Federation for Environmental Movement and as Chairperson of the National Police Commission under the Moon Jae-in administration. The Board of Audit and Inspection chief is appointed by the president with the consent of the National Assembly.
According to materials submitted by the Board of Audit and Inspection to People Power Party lawmaker Kim Mi-ae, Kim served for one year starting in Oct. 2014 as an outside advisory committee member on SK hynix's industrial health verification committee. The committee was created by the company after media reports that SK hynix plant workers were suffering from occupational diseases such as leukemia. Members conducted workplace environment measurements, evaluated chemical substance management practices, and carried out epidemiological investigations.
Kim asked the nominee to submit detailed records of the advisory work. But Kim reportedly did not submit them. In a written reply to Kim, the nominee said, "SK hynix also responded that either the retention period for the relevant documents has already expired or they do not currently possess them, so please understand that it is difficult to submit the materials."
At the hearing, lawmaker Kim Mi-ae said, "According to the asset-related documents submitted by the nominee, it states that he holds SK hynix shares worth 28,832,000 won." She added, "Upon specific verification, he holds 31 shares, and it seems the appraised value and the number of shares do not match." She continued, "It is quite important when and how many SK hynix shares were acquired and how, but the documents are not being submitted."
Regarding the SK hynix shares, Kim said, "It was an indirect investment through an asset management company," adding, "I recall that I did not personally choose SK hynix."