The Korea Exchange announced on January 11 that it referred a total of 98 cases of unfair trading to the Financial Services Commission after analyzing anomalous trading activities last year. Among these cases, 58, which account for 59.2% of the total, involved the use of undisclosed information, making it the most common type of violation. Other infractions included fraudulent transactions (18 cases, 18.4%), price manipulation (16 cases, 16.3%), and reporting violations (6 cases, 6.1%). The data suggested a concerning trend, particularly in the KOSDAQ market, where the number of reported violations was significantly higher than in more established markets, underscoring vulnerabilities in governance of KOSDAQ-listed firms.