Former South Korean President Yoon Suk Yeol Faces Historic Court Ruling Over Failed Martial Law Attempt 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
California Attorney General Orders xAI to Halt Illegal Grok Deepfake Imagery 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
American Airlines Plans Return to Venezuela Flights After U.S. Lifts Ban 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Brazil Supreme Court Orders Asset Freeze of Nelson Tanure Amid Banco Master Investigation 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
Trump Lawsuit Against JPMorgan Signals Rising Tensions Between Wall Street and the White House 
Supreme Court Tests Federal Reserve Independence Amid Trump’s Bid to Fire Lisa Cook 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
Google Seeks Delay on Data-Sharing Order as It Appeals Landmark Antitrust Ruling 
The Financial Supervisory Service (FSS) raided KB Kookmin Bank's Seoul headquarters, investigating its employees' alleged illicit stock trading activities using undisclosed information.
According to the FSS, these employees are suspected of engaging in insider trading, resulting in unfair profits of billions of Won. Between January 2021 and April 2023, their combined gains reached a staggering 12.7 billion Won ($9.48 million), as reported by the watchdog agency.
The investigation revealed that the suspects had purchased shares from 61 listed companies while involved in works related to the companies' capital increase. Shortly after the companies' filings, when the stock prices rose, the employees allegedly sold the shares for substantial profits. These illicit trading activities were carried out using both the suspects' personal stock accounts and those belonging to their family members.
The FSS further disclosed that the suspects shared the confidential information with their families and acquaintances, including colleagues from different divisions and accountants. This enabled others to also profit from the insider information, with estimated gains of approximately 6.1 billion Won obtained by individuals associated with the suspects.
During the raid, investigators from the FSS seized computer equipment and relevant documents as evidence. Additionally, the FSS' capital market special judicial police are investigating whether other parties benefited from the insider information provided by KB officials.
On August 9, the FSS and the Financial Services Commission reported the case to the prosecution, highlighting the severe breach of trust and its impact on investor confidence. An official from the watchdog expressed concern, stating that bank employees had misused internal information that retail investors would typically not have access to before the official filing of capital increase announcements.
The investigation into the suspected insider trading at KB Kookmin Bank continues as authorities work towards maintaining the integrity of the financial market and upholding fairness for all investors.
