The Financial Supervisory Service special judicial police (special investigative police) arrested those involved on charges of pocketing large illicit gains by exploiting "featured stock" articles.
On the 18th, according to the financial investment industry, the Financial Supervisory Service (FSS) special investigative police recently arrested a former reporter and one accomplice.
They are accused of taking illicit gains in the 10 billion won range by planning and writing favorable articles about certain stocks in advance over several years to artificially push up share prices. Before the articles were published, they bought the shares of the relevant stocks in advance and, once the articles went public, sold them in step with the price rise, using the so-called "front-running" method.
In connection with this case, the special investigative police plan to swiftly wrap up the probe.