Finance
Prosecutors raid Meritz Securities over suspected use of undisclosed information
South Korean prosecutors began a forced investigation into Meritz Securities’ headquarters and the office of Meritz Financial Group Vice Chairman Kim Yong-beom over allegations that executives used undisclosed material information. Investigators seized computer hard drives and documents as they examine whether insider information was illegally used during the group’s 2022 move to make affiliates wholly owned subsidiaries. Meritz Financial shares fell 5.95 percent to 101,200 won.
