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Daou Kiwoom Group Chairman Kim Ik-rae has angered investors with his suspicious sales of Daou Data shares, shortly before the stock's 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 contract's 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 contract's 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.