Trading of five stocks?Dongil Industrial, Daehan Textile, Manho Steel, Banglim, and Dongil Metal?which were suspended due to a simultaneous plunge to the lower price limit, will resume on the 3rd of next month.
The Financial Services Commission, the Financial Supervisory Service, and the Korea Exchange jointly released a press reference on the 30th, stating, "Based on data provided by the financial authorities, the Seoul Southern District Prosecutors' Office has taken measures such as travel bans on suspects, search and seizure, and pre-indictment seizure orders." Accordingly, they decided to lift the trading suspension on the five stocks starting from the 3rd of next month.
These stocks experienced a simultaneous sharp drop to the lower price limit on the 14th and have been suspended from trading since the following day.
Following the stock price manipulation incident involving Ra Deok-yeon (currently detained and indicted) and his group, which was revealed during the Soci?t? G?n?rale (SG) Securities crash incident in April, the financial authorities have been intensively inspecting similar types of unfair trading. During this process, they detected allegations of stock price manipulation involving the five stocks including Dongil Industrial, and explained that they were able to promptly suspend trading when the lower price limit incident occurred.
The Korea Exchange added, "Through close cooperation among related agencies, we will firmly respond to market disorder forces and do our best to protect investors and stabilize the stock market."
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