(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Viva Republica, the company behind the popular financial app Toss, has dismissed recent allegations of illegal loans involving its CEO, Lee Seung-gun.

According to industry reports on August 30, some media outlets claimed that Lee Seung-gun had secured a loan of approximately 73 billion KRW by using shares of a private company as collateral with FTX, a now-bankrupt U.S. cryptocurrency exchange. The reports suggested that Lee may have subsequently refinanced this loan through another South Korean financial institution after FTX's collapse last year.

In response, Toss issued an official statement rejecting the claims. The company clarified that the loan in question was obtained from Maclaurin, a specialized investment firm, and was not associated with FTX. Furthermore, Toss confirmed that the loan has already been fully repaid and asserted that it has no impact on the company’s upcoming Initial Public Offering (IPO) process.

 

 

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