'83-year-old Super Gaemi' born in 1983 who pocketed 4.6 billion won from stock manipulation absent from warrant hearing

Submission of Absence Statement Before Review... Postponement of Hearing Date

[Asia Economy Reporter Yoo Byung-don] A full-time investor accused of manipulating the stock prices of KOSDAQ-listed companies to pocket a profit of 4.6 billion KRW failed to appear at the pre-trial detention hearing (warrant substantive examination).

The full-time investor Kim (39) did not attend the hearing scheduled for 10:30 a.m. on the 28th. Earlier, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Lee Seung-hyung) filed a detention warrant for Kim on the 26th on charges including violation of the Capital Markets Act.

The postponed hearing date will be rescheduled. It is known that Kim submitted a letter explaining his absence before the hearing, but the exact reason has not been disclosed.

Known as the "Super Wanggaemi born in '83," Kim is a figure who gained attention in stock communities for making large profits by trading a large volume of stocks in a short period. He is accused of earning approximately 4.6 billion KRW in illicit gains through unfair trading activities in July.

According to the prosecution, Kim and a related party, A, purchased 1,085,248 shares (12.09%) of the metal processing company Shinjin SM twice, in June last year and July this year, and sold all the shares after the stock price rose, reportedly earning a total profit of 1.11964 billion KRW.

Kim is also charged with violating the mandatory "large shareholding report" under the Capital Markets Act, which must be filed when holding a large volume of stocks.

The Capital Markets Act stipulates that if a shareholder holds 5% or more of voting stocks in a listed company, or if there is a change of 1% or more in the shares held above 5%, the shareholder must report to the Financial Supervisory Service within five days.

The prosecution is also reportedly investigating whether Kim's purchase of 839,188 shares (about 5.25%) of diary manufacturer Yangji Co. in July involves stock price manipulation charges.

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