2023-08-23 01:24:51
A view of the main buildings of KB Financial Group and KB Kookmin Bank in Yeouido, Yeongdeungpo-gu, Seoul./News 1
The Financial Supervisory Service (FSS) is conducting a search and seizure of the headquarters of KB Kookmin Bank in Yeouido, Seoul on the 23rd in connection with the allegations that KB Kookmin Bank employees used undisclosed information to make unfair profits.
The Financial Supervisory Service’s capital market special judicial police (special envoy) secured various documents and PC hard disks in the headquarters of KB Kookmin Bank, how employees obtained undisclosed information and used it for stock trading, and informed their families and surrounding employees of related issues. It was deemed necessary to confirm that the contents were disseminated, and a warrant was issued.
The Financial Services Commission and the Financial Supervisory Service previously announced on the 9th that they had discovered and notified the prosecution of the use of undisclosed important information involving employees of KB Kookmin Bank, which acts as an agent for securities business of listed companies. According to the authorities, in the process of acting as an agent for bonus offerings of 61 listed companies from January 2021 to April this year, the employees identified information such as the size and schedule of bonus offerings in advance and used it for stock trading to raise regarding KRW 6.6 billion. took an unfair advantage.
Bonus issue is the distribution of stock without receiving money from shareholders. From a shareholder’s point of view, it works as a good news in the stock market because it allows you to own more shares without spending additional money. Employees of the department passed on the information to their families, friends and acquaintances, as well as employees from other departments within the bank. They also made an unfair profit of regarding 6.1 billion won through stock trading. A total of 12.7 billion won was illegally obtained through the use of undisclosed information.
It is known that regarding 6 employees of Kookmin Bank were involved in the incident. According to Kookmin Bank, one employee who has been excluded from work due to cheating has been proven, and the rest of the employees are expected to be revealed through the prosecution’s investigation.
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