South Korea’s Securities and Futures Commission said it reported and referred three unfair capital-market cases to prosecutors at a regular meeting on the 30th. One case involved representative C of B Corporation, who allegedly obtained advance information about the transfer of shares and management rights in listed company A and passed it to acquaintances D and E, who traded A shares before disclosure. The resulting illicit gains were estimated at hundreds of millions of won. Separately, F, the largest shareholder and representative of a real estate development company, was indicted for allegedly manipulating stock prices through thousands of high-price and closing-price-influencing orders placed through 11 accounts over two years and five months, generating illicit gains worth hundreds of billions of won. Authorities also identified manipulation involving South Korea’s alternative trading system Nextrade, or NXT. An individual investor allegedly exploited the platform’s thin order book, while a family group allegedly concentrated orders before the market close and earned about 20 billion won, or approximately $14.8 million. The cases illustrate how low liquidity and concentrated orders can amplify price movements.