[Exclusive] Vaccine advice before taking office… Baek Kyung-ran accused of 'inside information stock investment'

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The fact that the Korea Centers for Disease Control and Prevention (KCDC) Director Baek Kyung-ran owns stocks in the bio and pharmaceutical sectors has recently been made known through a public official's property disclosure.

However, it was confirmed that even before President Baek took office, he participated in the National Advisory Committee on vaccines dozens of times.

Suspicions have been raised that he may have invested in stocks with the information obtained in the process.

Reporter Hyung-woo Jeon was the sole reporter.

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The list of stocks held by the Director of the Korea Centers for Disease Control and Prevention includes SK Bioscience, which makes a COVID-19 vaccine, SK Biopharmaceuticals, a pharmaceutical company, and other bio-related KOSDAQ-listed companies.

When the conflict of interest broke out, Commissioner Baek explained, "I sold the shares of SK Bioscience right after taking office."

However, problems were also found in his investment activities before his inauguration.

This is because Commissioner Baek served as a national advisory member regarding the corona vaccine before taking office.

SK Bioscience, which supplied corona vaccines in Korea, since its first listing in March last year, its stock price jumped up to five times its IPO price until August of the same year.

As a result of SBS coverage, during this period, Commissioner Paik attended the National Vaccine-related Advisory Conference 27 times.

[Shin Hyeon-young / Assemblyman from the Democratic Party of Korea: We have an advisory meeting before deciding which company to purchase which vaccine or which treatment.

Naturally, prior materials are distributed and shared with experts before a decision is made.]

Because of concerns that advisory information could be misused, in the case of the Food and Drug Administration (FDA), experts on government advisory boards cannot hold shares in companies with conflicts of interest, neither themselves nor their immediate family members.

The Korea Centers for Disease Control and Prevention (KCDC) clarified that "advising is an activity as a private expert and does not fall under the obligation to prevent conflicts of interest under the Public Official Ethics Act."

He also explained that "SK Bioscience stocks were purchased in small quantities after the vaccine clinical trial results were announced, not through insider information."

(Video coverage: Kim Nam-seong and Yoon Hyung, Video editing: Choi Eun-jin)