Daou Data News Today

Prosecutors have launched an investigation into allegations that former Daou Kiwoom Group Chairman Kim Ik-rae was involved in a stock manipulation scheme that caused the share prices of eight companies plummeting for no apparent reason in May.

The bank accounts of those suspected of manipulating stock prices will be frozen and their illegally earned profits will also be confiscated. These are part of plans announced by financial regulators in what they are calling their “war against those who disturb the market.” The Financial Services Commission (FSC), the Financial Supervisory Service (FSS), Korea Exchange (KRX) and Seoul Southern District Prosecutors Office discussed such measures, Tuesday.

Deteriorating public sentiment toward Kiwoom Securities is showing no signs of letting up, even after its former Chairman Kim Ik-rae resigned for his alleged involvement in a nationwide stock manipulation scandal. Kim made the abrupt announcement Thursday afternoon and decided to donate all of his gains worth 60.5 billion won following his suspicious sell-off of 1.4 million Daou Data shares. Daou Data is an affiliate of Daou Kiwoom Group. The firms stock price fell sharply shortly after Kim sold...

Koreas top financial watchdog has launched an investigation into Kiwoom Securities to look into whether the company engaged in unfair sales of a contract for difference (CFD). The risky leveraged derivative is considered to have driven the latest stock manipulation scandal which incurred combined losses of around 8 trillion won within only four days late last month.

Two figures involved in the latest stock manipulation scandal are escalating ensuing legal battles and claiming innocence regarding the abrupt collapse of eight listed shares here.

Daou Kiwoom Group Chairman Kim Ik-rae has angered investors with his suspicious sales of Daou Data shares, shortly before the stocks abrupt decline. It remains unclear whether Kim is involved in the escalating stock scandal surrounding eight companies that experienced plummeting stock prices for no apparent reason.

Local brokerage companies have begun to prohibit customers from opening new accounts for trading contracts for difference (CFD) - a financial derivative product tied to the difference in price of a contracts opening and closing prices - following a recently-revealed stock price manipulation scam involving eight local stocks, including Samchully, Daesung Holdings and Daou Data.

Local brokerage companies have begun to prohibit customers from opening new accounts for trading contracts for difference (CFD) - a financial derivative product tied to the difference in price of a contracts opening and closing prices - following a recently-revealed stock price manipulation scam involving eight local stocks, including Samchully, Daesung Holdings and Daou Data.

Six stocks listed in the Korean stock market have plummeted in value for three consecutive trading days with no apparent reason amid growing suspicion of price manipulation. Shares of Samchully, Daesung Holdings, Seoul Gas, Sebang, Sun Kwang and Daou Data extended losses of more than 20 percent on Wednesday after suffering double-digit falls during the two previous trading sessions, according to data from the Korea Exchange.