Kookmin Bank Employee Detained and Sent to Prosecution for Embezzling 6 Billion Won Using Insider Information

Use of Information Obtained During Free Stock Issuance Work
Suspected of Earning Profits Through Stock Trading
Prosecutors to Decide on Indictment After Reviewing Data

A bank employee who gained an unfair profit of about 6 billion KRW by using insider information of a listed company learned during work was arrested and handed over to the prosecution.

On the 18th, the Capital Market Special Judicial Police (Special Judicial Police) of the Financial Supervisory Service announced that they had sent Mr. A, an employee of KB Kookmin Bank, to the prosecution on charges of violating the Capital Markets Act.

Mr. A is accused of making a profit through stock trading by using information such as the scale and schedule of a stock dividend that he learned in advance while working in the securities agency department of KB Kookmin Bank, which handles the stock dividend business of listed companies. It is known that the unfair profit from selling stocks in advance under his own and his family's names reached as much as 6 billion KRW. The arrest warrant for Mr. A was issued by the Seoul Southern District Court on the 11th.

The Financial Supervisory Service's Special Judicial Police are also investigating other employees who worked in the securities agency department at the time in connection with this case. The total unfair profit made by them using undisclosed information is known to be about 12.7 billion KRW. The prosecution will review the suspects and related materials sent and decide whether to indict.