CEO sells stocks knowing bad news in advance; Financial Supervisory Service to intensively monitor unfair trading during financial reporting periods
A company CEO sold all his shares after learning about an impending adverse audit opinion, prompting the Financial Supervisory Service to enhance monitoring of unfair trading during financial reporting periods.
Court: Assignment of Newspaper Sales Quota to Correspondent and Collection of Fees Violated Fair Trade Law
A court in Gwangju has ruled that a local newspaper's practice of assigning sales quotas to its correspondent and forcing them to collect fees is an unfair trading practice under the Fair Trade Law.
Rice Prices Surge 18.3% and Instant Noodles 8.2%...Government Cracks Down on Prices in the Shopping Basket
The South Korean government has launched a joint crackdown on unfair trading behaviors affecting consumer goods as prices continue to rise, particularly in essential categories.
Lee Chan-jin: "The Financial Supervisory Service should be an independent national agency like the SEC in the US"
Lee Chan-jin, head of South Korea's Financial Supervisory Service, advocates for its transformation into an independent national agency similar to the US SEC to enhance professionalism and efficiency in tackling unfair trading practices.
The first verdict on virtual asset law has come out… the representative of a market manipulation company was sentenced to 3 years in prison
A virtual asset management company representative was sentenced to three years in prison for artificially inflating cryptocurrency prices, marking the first application of the Virtual Asset User Protection Law's provisions against unfair trading since its enactment is set for July 2024.
Hong Eok-kyun: The U.S. Provides 400 Billion Won, But Expanding Reward for Reporting Stock Price Manipulation
Korea's Financial Services Commission chair, Hong Eok-kyun, announced plans to significantly raise reward caps for reporting unfair trading and to create a new fund for proportional rewards based on unlawful profits, following previous criticisms of the low reward cap in Korea compared to the U.S.