[Featured Stock] KNN, Public Corruption Investigation Office Starts Probe on Yoon Seok-yeol... Hong Jung-wook 'In Focus'

[Asia Economy Reporter Yoo Hyun-seok] KNN is showing strength. It appears that the news of the High-ranking Officials' Crime Investigation Agency (Gong-su-cheo) launching an investigation into former Prosecutor General Yoon Seok-yeol, who has emerged as a leading presidential candidate, has had an impact.

As of 9:03 AM on the 11th, KNN was trading at 2,020 KRW, up 6.60% (125 KRW) compared to the previous trading day.

According to the legal community, Gong-su-cheo formally registered an investigation on the 4th into former Prosecutor General Yoon on charges including abuse of authority and obstruction of the exercise of rights.

Earlier, the Citizens' Action for Judicial Justice (Sasehaeng) filed a complaint with Gong-su-cheo on February 8th, accusing former Prosecutor General Yoon and others of allegedly conducting a negligent investigation into the 2019 Optimus Fund fraud case, charging them with abuse of authority and obstruction of the exercise of rights.

Additionally, on March 4th, former Prosecutor General Yoon and Cho Nam-gwan, Deputy Chief Prosecutor of the Supreme Prosecutors' Office, were reported to Gong-su-cheo on the same charges for allegedly obstructing the investigation and prosecution of prosecutors suspected of coercing false testimony against former Prime Minister Han Myeong-sook.

KNN is considered a stock related to Hong Jung-wook, as Hong Seong-ah, co-CEO of Busan Global Village who holds 50% of the company's shares, is known to be the sister of former lawmaker Hong Jung-wook.