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[Alpha Biz=(Chicago) Reporter Kim Jisun] Youngpoong Paper, which received market attention as its stock price rose 730% this year, was seized and searched by the prosecution with a lower limit.
According to the industry on the 19th, the Seoul Southern District Prosecutors' Office and the Financial Supervisory Service raided the office of Youngpoong Paper earlier in the day.
Prosecutors reportedly conducted a raid to secure related data to look into whether it is suspected of violating the Capital Market Act, including market price manipulation, in connection with the plunge in the stock price of Youngpoong Paper.
Youngpoong Paper was sold right after its opening on the stock market and reached the lower limit at 9:12 a.m. According to the selling window by securities firm, JP Morgan Securities and Morgan Stanley, foreign companies, are known to have the largest number.
In this regard, the Financial Services Commission and the Financial Supervisory Service have suspended transactions.
Meanwhile, Youngpoong Paper has also attracted market attention, with its stock price rising more than 730% this year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
