DI Dongil Hits Lower Limit on Reports of "Super Rich Stock Manipulation" Involvement

On September 23, DI Dongil hit the lower price limit following reports linking the company to the "Super Rich 100 Billion Won Stock Manipulation Case."

According to the Korea Exchange on September 23, shares of DI Dongil closed at 25,700 won, down 29.88% from the previous session. DI Dongil’s share price, which was in the 24,000 won range early last year, soared to 50,200 won on January 13 this year. After fluctuating between the 30,000 and 40,000 won levels, it plunged to the 25,000 won range on this day.

This drop is analyzed to be the result of reports that the company was the target in a case where super-rich individuals-including general hospital and large academy operators, former executives of well-known private equity funds, and financial experts such as bank branch managers-mobilized 100 billion won in funds to manipulate stock prices.

The Financial Services Commission, Financial Supervisory Service, and Korea Exchange announced that on this day, they conducted search and seizure operations at more than 10 locations, including the homes and offices of seven major players who have manipulated stock prices over an extended period using large-scale funds. These individuals are suspected of raising over 100 billion won in price manipulation funds-including corporate funds and loans from financial institutions-since early last year, and luring investors through various manipulative orders such as high-priced purchases and fake orders over approximately one year and nine months.

Their illicit gains amounted to 40 billion won, with actual realized profits from price differences reaching 23 billion won. The value of the stocks involved is estimated to exceed 100 billion won.

On its website, DI Dongil stated, "Some media outlets have reported that DI Dongil has been identified as a victim company," adding, "Even if our company is a victim, we are in no way involved in the incident and clearly state that we are a victim of illegal stock price manipulation activities."

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