Victims of Genencell investments visited the National Assembly.
Shareholders harmed by Sejong Medical and Genencell held a press conference on the 11th at the office of Rep. Park Jeong-hoon of the People Power Party in the National Assembly Members' Office Building, saying, "We need to verify what roles Genencell founder Kang Se-chan, broker Mr. Yang, and Justice Minister nominee Kim Seung-won or anyone from the lawmaker's office actually played."
Two victims, including Baek Gwang-jae, head of the Sejong Medical beneficial shareholders' alliance, held a press conference at the National Assembly that day. They said, "Give small shareholders who were not involved in any criminal acts another chance to recover," and added, "Thoroughly uncover the substantive truth about the various suspicions surrounding Genencell and how Sejong Medical shareholders suffered losses in the process."
The victims said they bought shares "on expectations for Genencell's COVID-19 treatment development and clinical trials, and based on related information and disclosures known to the market," and added, "We must verify whether the information delivered to investors was accurate, who played roles in the clinical trial approval process, and how that information and those expectations affected Sejong Medical's share price and trading volume."
They emphasized, "If a large buying trend formed based on certain information and expectations, and if that was used to unload the holdings of existing shareholders or a specific party in large quantities on the market, we must also determine who gained economic benefits in the process."
They also argued that it must be checked what kind of connection ties Genencell CEO Kang Se-chan, broker Yang Su-jin, and nominee Kim Seung-won. They said, "There are 30,000 Sejong Medical shareholders, and the damages are estimated at about 5 billion won."
Rep. Park Jeong-hoon, who hosted the press conference, said, "Supreme Council member Park Seon-won shared details that could identify Mr. Cho, who first raised the issue," and added, "Cho is actually being threatened by the ruling party. He applied for personal protection to the Anti-Corruption & Civil Rights Commission, and because the review was delayed, he is now under protection."
Independent lawmaker Han Dong-hoon, who attended the press conference, also said, "Democratic Party Supreme Council member Park Seon-won exposing the whistleblower's identity, and Democratic Party leader Kim Min-seok, who was there, are all accomplices."