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HUBO, a bipedal humanoid robot developed by Rainbow Robotics. (Photo courtesy of Rainbow Robotics) |
[Alpha Biz= Kim Jisun] Prosecutors have launched a search and seizure operation at Samsung Electronics as part of an investigation into alleged insider trading related to its stake acquisition in Rainbow Robotics.
According to a report by News1 on June 11, the Financial and Securities Crime Joint Investigation Division of the Seoul Southern District Prosecutors’ Office conducted a raid on Samsung Electronics’ headquarters in Suwon on June 10 over suspected violations of the Capital Markets Act, including the use of material non-public information.
The probe follows a referral from the Securities and Futures Commission, which found that individuals linked to Rainbow Robotics had allegedly profited from undisclosed information. Of 16 individuals involved, two were formally reported to prosecutors, while investigations were requested for the remaining 14.
Those under investigation reportedly include Rainbow Robotics’ current CEO and its former chief financial officer.
Prosecutors are also examining allegations that a Samsung Electronics planning team employee purchased related shares using insider information and passed on favorable information to family members, enabling them to gain illicit profits.
Authorities suspect the employee may have accessed confidential information regarding Samsung Electronics’ planned stake acquisition in Rainbow Robotics and used it for personal gain.
The investigation is focused on whether the individuals traded shares between 2022 and 2024 using undisclosed information during the acquisition process, generating illicit gains estimated at 3 billion to 4 billion won.
Prosecutors previously conducted raids on Rainbow Robotics’ headquarters and the homes of current and former executives on March 18. On June 2, they also questioned Oh Jun-ho as a witness.
Rainbow Robotics, founded by researchers from KAIST, is known for developing South Korea’s first bipedal humanoid robot, HUBO. Samsung Electronics acquired stakes in the company between 2022 and 2024, and it was incorporated as a subsidiary last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
