The prosecution is conducting a search and seizure of Korea Zinc, which is suspected of engaging in fraudulent transactions during the process of a paid-in capital increase.
The Financial Supervisory Service (Director General Ahn Chang-joo) noted on the morning of the 23rd that a search and seizure is underway at a total of 11 locations, including the headquarters of Korea Zinc in Jongno-gu, Seoul, in connection with allegations of violations of the Capital Markets Act.
The prosecution noted that they are also conducting searches at Mirae Asset Securities and KB Securities, which were the underwriters for the paid-in capital increase.
The prosecution is investigating whether there were violations of the Capital Markets Act during the large-scale paid-in capital increase attempt by Korea Zinc Chairman Choi Yoon-beom last year.
Earlier, the Financial Supervisory Service requested a criminal investigation by the prosecution, stating that Korea Zinc did not properly disclose its plans for a paid-in capital increase after deciding to conduct a public buyback of its own shares worth 25 billion won last year.