(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Financial authorities have detected indications that Koo Yeon-kyung, the eldest daughter of the late LG Group Chairman Koo Bon-moo and current head of the LG Welfare Foundation, may have acquired stocks using undisclosed information. According to financial sources on the 28th, the Financial Services Commission (FSC) is expected to bring this matter before the Securities and Futures Commission on the 2nd of next month for deliberation.

The Financial Supervisory Service (FSS) had earlier referred the case to the FSC, suspecting that Koo had violated the Capital Markets Act by using inside information when acquiring 30,000 shares of a KOSDAQ-listed biotech company, referred to as Company A, last year.

Company A is involved in developing treatments for rare heart diseases. On April 19 of last year, it announced it had raised 50 billion KRW through a third-party allotment of new shares from BRV Capital Management, the global growth investment platform of Bluerun Ventures.

The decision-maker behind this investment was BRV Capital's Chief Investment Officer (CIO), Yoon Gwan, who is Koo's husband. On the day the 50 billion KRW investment was announced, Company A's stock price, which had been around 18,000 KRW per share, surged by over 16% and eventually reached as high as 50,000 KRW.

 

 

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