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[Alpha Biz=(Chicago) Reporter Paul Lee] Youngpoong Paper made a public announcement on the 20th, saying, "There has been no confirmation so far of the facts and details of rumors of unfair trade."
This is in response to the Korea Exchange's request for disclosure of the facts and details of the unfair trade rumor the previous day.
In addition, the company explained that the reports were different from the facts regarding the seizure search of Youngpoong Paper, which was reported in some media outlets on the 18th.
"The search and seizure has not been carried out, and we have yet to receive any notification from investigative authorities and the Financial Supervisory Service regarding allegations of unfair trade," said Youngpoong Paper.
Youngpoong Paper soared more than nine times this year, but fell to the lower limit at the same time as it opened the previous day, prompting financial authorities to raise the possibility of stock price manipulation and the trading of sovereignty has been suspended.
Shares of Youngpoong Paper, which started at 5,829 won earlier this year, rose to 50,000 won in August. The stock price just before the suspension of trading the day before is 33,900 won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
