Koo Yeon-kyung, CEO of LG Welfare Foundation, was raided and searched for 'suspected stock fraud'.

Prosecutors have launched a forced investigation into Koo Yeon-kyung, the eldest daughter of the late LG Chairman Koo Bon-moo, who is suspected of purchasing stocks using undisclosed information.

The Seoul Southern District Prosecutors' Office's Joint Investigation Department on Financial and Securities Crimes raided the LG Welfare Foundation in Pyeongtaek, Gyeonggi Province, and CEO Koo's home in Hannam-dong, Seoul, this morning (30th).CEO of

and her husband, Yoon Kwan, CEO of Blue Run Ventures, are accused of receiving undisclosed material information related to the capital increase of KOSDAQ listed companies and using it to trade stocks.

Earlier this month, the Financial Services Commission notified the prosecution of allegations of violations of the Capital Market Act by the representative couple, and the civic group People's Economic Research Institute filed a complaint with the Seoul Southern District Prosecutors' Office on the 25th.