South Korean businessman Ahn Youngyong (Photo courtesy of BI)
MANILA – Philippine immigration authorities recently nabbed a South Korean businessman wanted in his homeland for economic crimes involving millions of dollars and barred him from leaving the country via Ninoy Aquino International Airport (NAIA) in Pasay City.
In a news release on Thursday, Bureau of Immigration (BI) Commissioner Norman Tansingco said Ahn Youngyong, 54, was intercepted at the NAIA Terminal 1 as he was about to board a Philippine Airlines flight to Shanghai, China on June 23.
“He was not allowed to leave and was instead arrested after his name prompted a hit in our derogatory check system, indicating that he is a wanted fugitive in his country,” Tansingco said.
Records showed that Ahn was placed on the BI watchlist after he was charged with a deportation case for being an undesirable alien, which stemmed from a criminal case that was filed against him in Korea.
The South Korean Embassy in Manila earlier informed the BI that a warrant for his arrest was issued by the Seoul Eastern district court on April 1, 2024, for violating the prohibition on marketing disturbances.
Market disturbance or disruption refers to any significant change or disturbance in an industry or market. As a result, markets cease to function in a regular manner, typically characterized by rapid and large market declines.
South Korean authorities alleged that between February and September 2018, Ahn disseminated false information on capital investment, joint development and sales of immune-anti cancer drugs, completion of technology transfer, and by a US biotech company.
The action caused the share price of the drug in the Korean stock market to rise tremendously, enabling its manufacturer to gain an unfair profit of more than 63.1 billion won, or almost USD44 million.
The foreigner is now at the BI detention facility in Taguig City while awaiting deportation.
New immigration law soon
Meanwhile, Tansingco thanked the Legislative-Executive Development Advisory Council (LEDAC) for including the proposed new immigration law among the priority bills for passage within the 19th Congress.
"We are deeply thankful to LEDAC for recognizing the urgent need to update our immigration laws. The current law has been in place for 84 years, and it is high time for us to modernize it to address the evolving challenges in immigration and border security,” he said in a separate statement.
President Ferdinand R. Marcos Jr., together with LEDAC members, earlier approved the inclusion of 28 priority bills in the Common Legislative Agenda (CLA), with the aim of passing these measures by June next year.
Among these is the long-awaited reform to the Philippine Immigration Act, which has remained unchanged since its enactment in 1940.
The proposed measure seeks to provide a more responsive framework for immigration management, enhancing the BI's capacity to safeguard the country’s borders and protect the rights of migrants.
The current Philippine Immigration Act was enacted during the Commonwealth era.
The proposed new law aims to address the gaps and limitations of the old legislation, aligning it with international standards and best practices. (PNA)
