Stock Purchase Before 'Netple Collaboration' Announced. SBS Allegations of Violation of the Company's Employee Capital Market Act
Jul 15, 2025
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According to SBS on the 15th, the suspected employee is under investigation by financial authorities on charges of purchasing SBS shares and earning market profits after knowing in advance that the company collaborated with Netflix.
SBS confirmed in an in-house notice under the name of the Management Committee on the afternoon of the 15th that the employee had made a large purchase of shares and made profits using undisclosed information acquired during his/her duties""It is stated that "moral and legal clear misconduct""
SBS said it immediately dismissed the employee as soon as the fact was confirmed, and announced that it would actively cooperate with the Financial Services Commission's investigation. "We deeply regret the violation of the Capital Markets Act by our employees," he said. "We will supplement the management system and strengthen related training to prevent similar cases from recurring in the future."
SBS urged all executives and employees to remind them of the law and ethics once again, emphasizing quick and transparent communication in sharing relevant information.
Earlier, the Financial Services Commission's capital market investigation team conducted a raid on SBS headquarters in Mok-dong, Seoul. The employee A, who is the subject of the survey, reportedly purchased SBS shares in large quantities based on the information before officially announcing that SBS would form a six-year content strategy partnership with Netflix late last year.
Later, when the collaboration was announced on December 20, 2023, SBS's stock price hit the upper limit for two consecutive days, and A reportedly earned hundreds of millions of won in the process.
Financial authorities are investigating whether there are more similar cases besides A, and SBS will conduct thorough internal control and ethics training to prevent executives from repeating the same mistake again," he added.
mj.cho@sportschosun.com
