[Jung Yong-hwa's Instagram]
Jung Yong-hwa, a leading vocal of South Korean boy band CNBlue, has been summoned by prosecutors amid an online outcry over allegations he was involved in insider trading.
He is suspected of using inside information to buy 21,000 shares of his entertainment agency in July last year after hearing about its plan to sign a contract with one of South Korea's most popular entertainers. Jung allegedly earned about 200 million won (170,000 US dollars) in a week by selling the shares after the agency announced the contract.
The move by prosecutors came on Tuesday, but it's not known when Jung will be questioned.
Criticism focused on Jung's alleged dishonest behavior, and his Instagram pictures taken during his holidays at Prague fueled the heat. Although his photographs were taken before he was summoned, online users expressed resentment against the smiling singer.
Chuchu633, an Instagram user, commented: "You already have enough, but you will lose everything because of your greed." Ksu0048, another user, wrote: "Your action put many small investors into despair. Did you think you will get away with this? I hope you will spend some good time in prison. Don't worry, you will be happy because there still will be many fans waiting for you."
Jung's agency said in a statement that the case is now "under investigation" by prosecutors. However, it promised to release an official announcement once the case is closed. The investigation came after financial regulators referred the case to prosecutors last month.
Aju News Park Sae-jin = swatchsjp@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
