[Market Focus] DI Dongil Continues Double-Digit Decline Amid "Super Rich Stock Price Manipulation" Allegations

DI Dongil, which hit the lower limit due to suspicions of involvement in the so-called "Super Rich 100 Billion Won Stock Price Manipulation" case, continued its double-digit decline on September 24.

According to the Korea Exchange, as of 9:20 a.m. on this day, DI Dongil's stock was trading at 22,900 won per share, down 10.89% from the previous session. The previous day, DI Dongil had closed at 25,700 won, down 29.88% from the previous session, amid allegations of involvement in the stock price manipulation case.

Previously, a joint response team comprised of the Financial Services Commission, the Financial Supervisory Service, and the Korea Exchange announced that it had conducted raids and asset freezes on the homes and offices of a major syndicate that had been manipulating stock prices since early last year. The funds used for price manipulation by this group are estimated to exceed 100 billion won, with illicit profits amounting to 40 billion won.

Yonhap News Agency

Soon after, when DI Dongil was identified as the related stock, the company stated, "Some media outlets have reported that DI Dongil has been confirmed as a victim company," adding, "Even if we are a victim, we clarify that DI Dongil is not involved in this case and is a victim of illegal stock price manipulation activities." The company further stated, "To protect the valuable rights of our shareholders and maintain a sound market order, we will actively and faithfully cooperate with any investigations or requests from the authorities," adding, "We hope that a thorough investigation by the authorities will clearly reveal the facts of the case."

DI Dongil's stock price was in the 24,000 won range in early last year, but surpassed the 50,000 won mark in January this year. Since then, it had fluctuated between the 30,000 and 40,000 won ranges.

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