Broker in new-drug lobbying case admits contacting Kim Seung-won but denies wrongdoing

A broker surnamed Yang, who faces allegations of lobbying then-lawmaker Kim Seung-won to expedite approval of a COVID-19 drug's clinical trial, acknowledged contacting Kim but denied any wrongdoing.

Yang issued a statement through his attorney Thursday, saying he "takes seriously" the burden his behavior placed on Kim and others. "I accept that my careless words and actions — which may have appeared to flaunt my ties to politicians — caused concern and inconvenience to nominee Kim and others," the statement said.

Yang is accused of asking Kim, at the time a National Assembly member, to press the Ministry of Food and Drug Safety for swift processing of a clinical trial application for a COVID-19 treatment developed by Genencell. He was subsequently indicted on charges of promising to provide Kim with a 5 million won ($3,650) political donation — an act prosecutors characterized as a bribe offer.

On the substance of the lobbying allegations, Yang's side said he never asked anyone to conceal specific data or figures. "The Ministry of Food and Drug Safety subsequently requested supplementary materials on 14 items and convened an expert advisory panel, reviewing conditional approval through its established procedures," the statement said.

Yang said he had acted out of concern that a treatment developed over many years by Genencell's representative, identified only by the surname Kang, might not receive timely review due to administrative delays — or that the related technology could be transferred abroad. "At the time, securing COVID-19 vaccines and treatments was an urgent global priority," the statement said. "I asked nominee Kim to pay attention to the matter so that the review of the treatment could proceed promptly."

On the bribery charge, Yang drew a line, saying there had been "no prior agreement or definitive promise" to hand over the 5 million won political donation.

Yang also rebuffed allegations that Genencell had acquired convertible bonds issued by a company he operated in exchange for his introduction to Kim. His statement said Kang had sold all of his Genencell shares to Sejong Medical roughly one month before the convertible bond acquisition agreement was signed. "At the time the contract was concluded, Kang was not in a position to control Genencell's decision-making or to direct the acquisition of the convertible bonds," it said.

Yang additionally denied ever operating an adult entertainment establishment. His side released the business registration certificate for a venue he previously ran called "Yagi," saying it was registered as a general restaurant serving Western-style food. "Describing it as a room salon does not accord with the objective documentary record," the statement said.