South Korea’s stock exchange will start a review next week to examine if executives of Hyundai Motor may have used undisclosed data to trade shares following reports of a tie-up with Apple, an exchange spokeswoman said.
Shares of Hyundai increased 21% between its initial confirmation of talks on autonomous vehicles between the two companies and an announcement last week that the talks were off.
Previously on Wednesday, top financial regulator Eun Sung-soo, the chairman of the Financial Services Commission (FSC), informed a parliament committee the exchange review could start next week.
In a filing last week, the automaker said it was not in talks with Apple on autonomous vehicles, just a month after having confirmed early-stage talks with the tech giant.
