NPS to seek compensation from Hanmi Pharma

[THE INVESTOR] The National Pension Service has decided to file a compensation suit against Hanmi Pharmaceutical should its alleged wrongdoings be proven true.

Speaking at the parliamentary audit, NPS’s Chief Investment Officer Kang Myeon-wook said that the agency will seek compensation if it is proven that Hanmi’s irregular dealings led to any losses for it.

Hanmi is alleged to have delayed in disclosing the fact that its contract with Boehringer Ingelheim has been terminated. Following the disclosure, the company’s shares fell from 620,000 won (US$ 559.10) on Sept. 29 to 457,000 won on Oct. 5, causing estimated loss of 150 billion won for the NPS.

It has also been alleged that information that would bring its shares down was circulated on mobile messenger services ahead of the disclosure. The company has since come under the scrutiny of financial authorities. Hanmi Pharmaceutical closed at 435,000 won, up 2.84 percent, on Oct. 10.

By Choi He-suk (cheesuk@heraldcorp.com)