[Featured Stock] Kiwoom Securities Rises Following Resignation of Former Chairman Kim Ik-rae

▲Kim Ik-rae, Former Chairman of Daou Kiwoom Group

The stock price of Kiwoom Securities, which had been declining for 11 consecutive trading days, is rebounding. This is interpreted as being influenced by the resignation of former Dow Kiwoom Group Chairman Kim Ik-rae, who is suspected of being involved in the stock price crash incident.

As of 9:39 AM on the 8th, Kiwoom Securities is trading at 90,500 KRW, up 1.69% from the previous trading day.

Investor sentiment appears to have improved after former Chairman Kim, who is rumored to be involved in the stock price crash incident, announced on the 7th his intention to step down from management. In a press conference, Kim stated, “I will resign as Chairman and Chairman of the Kiwoom Securities Board of Directors and intend to donate the proceeds from the sale of Dow Data shares to society.”

On the 20th of last month, just before the Dow Data stock price crash, Kim sold 1.4 million shares of Dow Data (worth approximately 60.543 billion KRW) through after-hours trading. This was two trading days before the stock price plunge triggered by SG Securities. This has raised suspicions in the securities industry that he may have been aware of stock price manipulation in advance.

In particular, controversy has spread widely after Ra Deok-yeon, CEO of H Investment Consulting, a key figure in the stock price manipulation allegations, raised a ‘behind-the-scenes’ theory involving Chairman Kim.

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