Korea Zinc offices raided over probe into new share plan
Published: 23 Apr. 2025, 20:24
![Korea Zinc holds a board of directors' meeting to discuss ways to resolve its allegations over fraudulent trading practices related to a stock issuance plan on Nov. 13, 2024, central Seoul. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/04/23/de84379c-223a-46ee-ba4f-dfd98966173b.jpg)
Korea Zinc holds a board of directors' meeting to discuss ways to resolve its allegations over fraudulent trading practices related to a stock issuance plan on Nov. 13, 2024, central Seoul. [YONHAP]
Prosecutors on Wednesday raided the headquarters and offices of Korea Zinc as part of a probe into a plan by the world's largest zinc smelter to sell new shares.
The Seoul Southern District Prosecutors' Office sent prosecutors and investigators to search six offices and five residences of Korea Zinc's executives to secure evidence.
Prosecutors suspect that the smelter's plan to sell new shares, announced in October last year, may constitute an unfair trading practice as well as a violation of the Financial Investment Services and Capital Markets Act.
Financial regulators have asked prosecutors to investigate the case, saying that it was linked to unfair practices.
Yonhap
with the Korea JoongAng Daily
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