Search results for Seoul Southern District Prosecutors
Finance
Prosecutors raid Daishin Securities, reviving brokerage internal controls debate
A prosecutors’ raid on Daishin Securities in a probe into alleged price manipulation involving a manager has reignited concerns over the effectiveness of internal controls across South Korea’s brokerage industry. The employee is suspected of colluding with outside actors to boost a KOSDAQ-listed stock and generate illicit profits worth tens of billions of won. Daishin says it detected suspicious trading early and reported the case, but some see the investigation expanding. Regulators and firms are also stepping up internal-control measures.
Finance
Prosecutors raid Daishin Securities over alleged Kosdaq stock manipulation
Prosecutors launched a forced investigation after identifying suspected collusion between a brokerage executive and a price-manipulation group to rig shares of a Kosdaq-listed company. The Seoul Southern District Prosecutors Office’s joint financial and securities crime unit began searches on Feb. 24, including at Daishin Securities’ headquarters in central Seoul. A manager-level employee is suspected of involvement. Daishin reported the employee to police last year after an internal audit.
Telecommunications & Media
Kakao Mobility speeds shift to physical AI company after legal risks ease
Kakao Mobility has moved past years of legal risk after prosecutors concluded there was no wrongdoing in two cases involving a taxi dispatch system and alleged violations of accounting standards. With a remaining allegation over call blocking, the company is expected to speed its shift from a platform operator to a physical AI company centered on autonomous driving. It has amassed about 30,000 km of driving data and reorganised to launch a physical AI division led by Kim Jin-kyu.
