The Financial Supervisory Service (FSS) is investigating Samsung Active Asset Management managers accused of using non-public information to buy stocks through nominee accounts before their inclusion in the firm’s active ETFs, then selling after prices rose. Internal testimony indicates managers also used mobile-phone tethering to obscure internet protocol (IP) traces, and four employees, including the responsible manager, were questioned; one has since left the company. The allegations surfaced during the review of Samsung’s March pre-listing disclosure of KoAct KOSDAQ Active ETF holdings. A webinar the day before listing detailed constituents and weightings, while Qurient, Sungho Electronics and Fadu rose sharply in after-market trading. Qurient and Sungho Electronics, which received weightings of about 9%, later gained 25% and 28%, respectively, during regular trading on the first listing day. The FSS had earlier said the announcement itself showed no intentional wrongdoing but would separately examine related unfair trading.