Mirae Asset Securities Union Criticizes Financial Watchdog: "Intensive Inspections Disrupt Work"

Financial Supervisory Service's Investigation Underway Over SpaceX Zero-Share Allocation Controversy

The labor union of Mirae Asset Securities has claimed that repeated inspections by the Financial Supervisory Service in recent days have disrupted work and infringed on the rights and interests of employees and executives.

On September 16, the union issued a statement expressing "serious concern over the Financial Supervisory Service's prolonged and intensive investigations, as well as its excessive investigative methods."

The Financial Supervisory Service is reportedly investigating whether any illegal activities occurred during Mirae Asset Securities' SpaceX public offering process—particularly whether professional investors were encouraged to register—which drew controversy over the 'zero-share allocation.'

The union explained, "From June 5 to July 16 of this year, the Financial Supervisory Service conducted an intensive audit for about 40 days. As a result, our work was disrupted, including postponement of the scheduled office relocation from Yeouido to Center One."

The union added, "Another inspection has been underway since September 14 on the 16th floor of the East Wing at Center One. During this process, about 150 employees from branches across the country have been summoned to Seoul, causing them to cancel appointments with clients and leave their workplaces vacant."

The union emphasized, "If the Financial Supervisory Service demands data such as personal mobile phone call records—which may pertain to privacy and personal information—the legal grounds, necessity, and appropriateness of such requests must be made absolutely clear. We respect legitimate oversight, but the authority to supervise cannot take precedence over employees' fundamental rights. The Financial Supervisory Service has an obligation to alleviate the burden of audits and ensure that the rights and interests of financial institutions and their staff are not unfairly infringed upon during the inspection process."

The union further announced, "We are conducting a legal review of the overall investigation, including excessive employee summons and demands for personal information. If potential violations of fundamental rights or privacy are confirmed, we will pursue all possible legal and institutional measures, including filing petitions with the National Human Rights Commission, and raising the issue with the Financial Services Commission, Board of Audit and Inspection, and the National Assembly's Political Affairs Committee."

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