South Korea's antitrust regulator has announced an investigation into 15 primary dealers suspected of colluding to manipulate government bond auctions between 2020 and 2023, impacting bids worth approximately 76.2 trillion won.
The regulator stated that its examiners have submitted a review report to the commission and sent copies to the 15 financial institutions accused in the case. The examiners allege these companies colluded and exchanged information during treasury bond auctions from January 2020 to June 2023, recommending corrective measures, fines, and criminal referrals.
The commission will determine whether violations occurred and, if so, decide on the level of sanctions after deliberation. The named institutions include Kyobo Securities, Daishin Securities, Meritz Securities, Mirae Asset Securities, Samsung Securities, Shinhan Securities, NH Securities, KB Securities, Korea Investment & Securities, and Kiwoom Securities, as well as KB Kookmin Securities, Nonghyup Securities, Korea Development Bank, Hana Bank, and Korea Development Bank.
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