[Alpha Biz=(Chicago) Reporter Paul Lee] "It was paid according to the contract agreed upon by the two parties," Chung Il-moon, president of Korea Investment & Securities, said during a parliamentary audit of the National Policy Committee on the 26th.

Yoon Chang-hyun, a member of People Power Party, said, "Index Mine, which signed an event contract with Korea Investment & Securities, did not receive proper business agency fees." When Yoon said, "Index Mine used at least 1.2 billion won and up to 4.6 billion won, but actually received only 18 million won," Chung replied, "We are paying according to the contract."

Explaining that Korea Investment & Securities Co. is the second-largest shareholder with a 16.67% stake in Index Mine, he also said, "It is against common sense that shareholders overuse their power against the company."

"The technology method is different," he said. "The method we use is a web view method used by all securities companies since 2018, but WTS (web trading system) based on Index Mine's API (application interface) started at the end of 2020." "There is probably a misunderstanding in communication with each other," he added. "We are trying to solve it well."

 

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