April 26, 2024

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NH Investment & Securities CEO Jeong Young-chae (NH Investment & Securities)

A sanction committee under the Financial Supervisory Service over the Optimus scandal will likely have to delay its upcoming meeting as one executive facing punitive measures has tested positive for the coronavirus, according to officials March 16.

NH Investment & Securities’ chief executive Jeong Young-chae tested positive for the virus and is being placed under quarantine, according to the company.

Jeong was to attend the third round of the sanction committee’s meeting on March 25, but the watchdog will likely have to delay the schedule considering Jeong’s two-week quarantine.

In the previous rounds, FSS suggested suspending his duty for three months.

NH Investment was the top seller of the Optimus funds that pooled 432.7 billion won ($382.11 million) worth of feeder funds. In August last year, the brokerage arm decided to offer up to 70 percent of funds to its investors.

By Jie Ye-eun (yeeun@heraldcorp.com)