Prosecutors raided the Seoul office of Daishin Securities on Tuesday over suspicions of stock price manipulation involving a company executive. The high-ranking official is accused of colluding with a price-rigging ring to manipulate a KOSDAQ-listed company's stock early last year. The brokerage reported the suspect to police following an internal audit and is fully cooperating with authorities.
The joint investigation team on financial and securities crimes at the Seoul Southern District Prosecutors Office conducted a search-and-seizure operation at the headquarters of Daishin Securities in central Seoul on Tuesday, February 24, 2026. Sources indicate that a high-ranking official from the brokerage is suspected of colluding with a price-rigging ring to manipulate the stock price of a company listed on the KOSDAQ market early last year, in 2025.
Daishin Securities stated that it reported the suspect to the police last year following an internal audit initiated in June 2025. The individual received disciplinary measures from the firm and departed the company late last year. "We are responding with a zero-tolerance policy toward illegal activities and are fully cooperating with related authorities with regard to the investigation," an official from Daishin Securities said.
The raid aligns with President Lee Jae Myung's repeated emphasis on eradicating stock price manipulation and other illegal acts that disrupt the financial market. Earlier this month, a joint task force on stock price manipulation carried out a search and seizure at a local business news outlet, investigating suspicions that five of its reporters made illegal gains by trading stocks using insider information. These actions highlight ongoing efforts to address financial irregularities in South Korea.
