Financial authorities have decided to notify the prosecution of suspicions that Koo Yeon-kyung, CEO of LG Welfare Foundation and eldest daughter of the late Koo Bon-moo, former chairman of LG Group, acquired stocks using undisclosed information.
According to financial authorities and industry sources on the 2nd, the Financial Services Commission held a Securities and Futures Commission meeting that day and made this decision regarding CEO Koo's alleged violation of the Capital Markets Act.
The Financial Supervisory Service reported that CEO Koo acquired 30,000 shares of a KOSDAQ-listed bio company, Company A, last year by utilizing investment attraction information before its announcement, and forwarded the case to the Financial Services Commission on suspicion of violating the Capital Markets Act.
Company A is a firm developing new drugs for treating rare heart diseases. The company raised 50 billion KRW through a third-party allotment paid-in capital increase from BlueRun Ventures' global growth investment platform, BRV Capital Management, on April 19 last year. The person who decided on the investment is CEO Koo's husband.
Company A's stock price was around 18,000 KRW, but after the successful investment attraction announcement, it soared to the 50,000 KRW range at one point.
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