Article: Coupang faces probe over alleged manipulation of search algorithms

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Coupang faces probe over alleged manipulation of search algorithms

julesmenten, 05 July 2021

According to industry figures with research knowledge, South Korea’s Coupang is being investigated for allegations that it has manipulated search algorithms to prioritize its products over its suppliers’ products.

The Korea Fair Trade Commission conducted an on-the-spot inspection last month at the headquarters of an e-commerce group in Seoul after being accused of abusing market dominance by increasing exposure to its own branded products rather than third parties. went. Continue reading “Article: Coupang faces probe over alleged manipulation of search algorithms”

Article: South Korea’s retail investor army declares war on short-sellers

Article - Media, Publications

South Korea’s retail investor army declares war on short-sellers

Song Jung-a, 25 April 2021

Jung Eui-Jung, a former South Korean bank employee, recalls his bitter experience as a novice stock trader more than a decade ago, when he lost Won25m ($22,000) after the small metal group he invested in was delisted.

“It is the past that I want to forget. Back then, I didn’t have much access to information. I was bound to lose in an environment tilted against amateur traders,” said the 62-year-old head of the Korean Stockholders’ Alliance, an advocacy group that represents about 44,000 retail investors.

But the tables have turned over the past year as retail investors have emerged as the dominant force in South Korea’s $2tn stock market, accounting for almost 60 per cent of daily turnover. With that heft, amateur traders have become a political force, seeking to even the odds against professional investors.

Mom-and-pop investors bought a net Won63.9tn of Korean shares last year, compared with a net sale of Won5.5tn in 2019. That helped propel the benchmark Kospi index up 118 per cent following a coronavirus-driven sell-off last March, making it one of the best-performing markets globally.

Almost one-fifth of Korea’s population of 52m dabbles in stocks, and data showed local brokerages have amassed Won76tn in cash deposits.

“The market dynamic is changing fast with individual investors becoming a powerful force that even hedge funds should be afraid of,” said Albert Yong, managing director at Petra Capital Management, a Seoul-based investment firm.

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Article: Samsung’s Lee denies charges in first court hearing on succession

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Samsung’s Lee denies charges in first court hearing on succession

Song Su-hyun, 22 April 2021

Samsung Electronics chief Lee Jae-yong on Thursday denied all charges leveled against him during his first trial hearing on alleged irregularities surrounding his ascension to the helm of Samsung Group.

Attending the session held at the Seoul Central District Court, Lee pleaded not guilty when he was asked by the presiding judge to respond to the charges brought against him by prosecutors which include stock market manipulation, illicit trading and breach of trust.

“I cannot admit (to the indictment). I deny (all the charges),” Lee replied, after a short pause. Continue reading “Article: Samsung’s Lee denies charges in first court hearing on succession”

Article: Samsung’s Jay Y. Lee on cusp of stepping out of father’s shadow

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Samsung’s Jay Y. Lee on cusp of stepping out of father’s shadow

Joyce Lee, 17 January 2021

SEOUL (Reuters) – For years, legal troubles have cast a cloud over Samsung Electronics Vice Chairman Jay Y. Lee as he stood on the cusp of stepping out of his father’s shadow and making a name for himself as the leader of the global tech giant.

On Monday, he faces sentencing on a bribery charge that could sideline him from the world’s largest smartphone and memory chip maker just as it looks to overtake rivals in areas such as chip contract manufacturing and artificial intelligence (AI).

“Samsung is at a crossroads,” said Park Ju-gun, head of researcher CEO Score. “COVID-19 has accelerated change, and other third-gen (Korean) business leaders are aggressively breaking into new business.” Continue reading “Article: Samsung’s Jay Y. Lee on cusp of stepping out of father’s shadow”

Article: CORRECTED-S.Korea fines Goldman Sachs’ unit $6.7 mln for naked short selling

Article - Media, Publications

CORRECTED-S.Korea fines Goldman Sachs’ unit $6.7 mln for naked short selling

Reuters Staff, 18 November 2018

SEOUL, Nov 28 (Reuters) – South Korea’s financial regulator said on Wednesday it has imposed a 7.5 billion won ($6.66 million) fine on Goldman Sachs Group’s subsidiary Goldman Sachs International for violating short-selling rules.

The fine is for its short selling activities without securing underlying assets, the Financial Services Commission (FSC) said in a statement, noting the U.S.-based international investment bank’s unit conducted short sales worth 40.1 billion won in May.

Naked short selling, which occurs when an investor sells stock that has not yet been borrowed, is illegal in South Korea. ($1 = 1,126.5500 won)

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