A group of small shareholders of Samsung SDS has filed an accusation against the head of the nation’s antitrust watchdog two months after shares of the company plunged, allegedly over remarks he made.
In a press statement before filing the accusation with the Seoul Central District Prosecutors’ Office on Monday, the shareholders criticized Fair Trade Commission(FTC) Chairman Kim Sang-jo for what they call a breach of his duty to protect the order of fair and free market economy.
They claimed that Kim also disrupted the rule of law with his inappropriate remarks.
At a press conference marking his first year in office on June 14th, Kim urged local conglomerates to sell the shares of their non-major and non-listed affiliates. He mentioned system integration, logistics, real estate management and advertisement as examples of those non-crucial subsidiaries.
The following day, the shares of Samsung SDS, a system integration arm of Samsung Group, plunged by 14 percent from the previous day.