South Korea’s Financial Services Commission announced that the Securities and Futures Commission referred an executive responsible for investor relations at a KOSDAQ-listed company to investigative authorities for suspected use of material nonpublic information and failure to report share ownership. The executive allegedly earned about KRW 20 million by purchasing the company’s shares through accounts in other people’s names from March to June 2024. The trades allegedly relied on nonpublic results from a Phase 1 clinical trial of a drug under development and information about a related technology licensing agreement. Listed-company executives and major shareholders must report shares held for their own account, regardless of registered ownership, within five days of taking office or becoming a major shareholder, and report subsequent ownership changes within five days.
2026-09-02South Korea Financial Services Commission
South Korea's Securities and Futures Commission refers KOSDAQ executive for suspected insider trading and ownership reporting violations
South Korea’s Securities and Futures Commission referred a KOSDAQ-listed company executive for suspected insider trading and share ownership reporting violations. The executive allegedly used undisclosed drug trial and licensing information to earn about KRW 20 million through shares bought in other people’s names.