Suspicions of 'Quantafia Market Manipulation' Ex-Police Executives Arrested

The Seoul Southern District Court today (14th) held a substantial examination of the arrest warrant for Kim, the former head of the Seoul Metropolitan Police Agency's investigation team, and two company officials who are suspected of investing directly in new and renewable energy company Quantafia and being involved in the stock market.

Kim and others are accused of promoting Quantumia's quantum image sensor business and raising stock prices, but the stock price rose from 700 won per share to 4,700 won per share last year.

Earlier, Quantafia posted a public announcement that it would raise 100 billion won worth of convertible bonds, but the investment was not actually made and the prosecution conducted a forced investigation into the company in August.It is expected to be decided tonight whether to arrest former general

Kim.