South Korea’s Financial Supervisory Service raids Maeil Business TV over alleged insider trading

The Financial Supervisory Service’s special investigation police (특사경) conducted a raid on the headquarters of Maeil Business TV in Seoul, marking the first case in which the unit exercised its newly authorized investigative powers. Investigators seized documents and data from three staff members suspected of purchasing shares in about 300 companies before broadcasting positive news about those firms, then selling the holdings after the broadcast. The alleged scheme is said to have generated profits exceeding 1 billion won (€750,000). The agency will analyze the seized material to confirm the timing of trades, broadcast content, and sale transactions, and will summon the individuals for questioning. The raid follows a recent amendment allowing the supervisory service to bypass earlier procedural steps and launch immediate investigations in suspected securities violations.