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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samil Pharm achieved a record-high performance last year, but its stock price has continued to decline after news that its owner's third-generation chairman Huh Seung-beom is under police investigation on charges of embezzlement and breach of trust.
About a year after Huh took office, owner risks have emerged, which could lead to a drop in corporate confidence.
According to industries on the 6th, Samil Pharmaceutical Chairman Huh Seung-bum has been under investigation since April last year on charges of embezzlement and breach of trust from the Seoul Metropolitan Police Agency's financial crime investigation unit.
After news that Chairman Huh is under police investigation, Samil Pharm shares closed at 7,850 won, down 9.1% from the previous trading day on the 5th. At one point in the market, it fell more than 20% from the previous trading day to 6,650 won.
Samil Pharmaceutical's stock price continued to decline on the 6th. As of 1:22 p.m., the stock price is down 5.86 percent from the previous trading day to 7,390 won.
In this regard, Samil Pharm said, "The investigation into Chairman Heo has been under internal investigation for a year, and most of it has already been explained," adding, "The overall management of the company is understood not to be affected at all."
"We apologize to all management, executives, employees, and stakeholders who have been working for the company on this issue, and we will strongly respond to the company so that malicious exaggeration and distortion of facts do not continue," he added.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
