[Breaking] Supreme Court Confirms Not Guilty Verdict for Former Constitutional Court Nominee Lee Yoo-jung on 'Insider Trading' Charges

[Asia Economy Reporter Choi Seok-jin, Legal Affairs Specialist] The acquittal of former Constitutional Court nominee Lee Yoo-jung, who was prosecuted for avoiding financial loss through stock trading using undisclosed information, has been finalized.

The Supreme Court's First Division (Presiding Justice Oh Kyung-mi) upheld the lower court's verdict acquitting Lee Yoo-jung and others in the appeal trial on charges of violating the Capital Markets Act.

The court stated, "The 'information related to the inspection results from the Ministry of Food and Drug Safety' received by the defendant from the company's CEO cannot be regarded as undisclosed material information with the required level of accuracy or as sufficiently specific to be considered of significant value in securities trading decisions," adding, "Based solely on the evidence submitted by the prosecution, it cannot be proven that the information qualifies as undisclosed material information under the Capital Markets Act."

Lee Yoo-jung is accused of purchasing 10,000 shares of Natural Endotech, a health functional food manufacturer, five months before its listing in 2013, and then selling the shares before the Ministry of Food and Drug Safety's inspection results were released in 2015, thereby avoiding a loss of 81 million won.

This content was produced with the assistance of AI translation services.