Controversy over conflict of interest arose over the fact that writer Park Soon-hyuk, the ‘Battery Man’ who led the rechargeable battery investment craze, simultaneously served as the public relations director of Geumyang, a rechargeable battery materials company, and the head of the operation division of a discretionary investment company.
According to the financial investment industry on the 12th, author Park has served as the head of the investment management division at Nextera바카라사이트 Investment Management since the second quarter of last year. Nextera Discretionary Investment is engaged in businesses such as demand forecasting for public offering stocks and discretionary asset management. As of the end of March, there were a total of 7 discretionary investment contracts managed by this company, worth 11.935 billion won. Author Park held both positions until he resigned from his position as Geumyang Public Relations Director in May after being sanctioned for violating disclosure by the Korea Exchange.
The issue is whether writer Park has conflict of interest issues, including ‘unhealthy business practices’. According to Article 98 of the Capital Markets Act, when managing discretionary investment property, it is prohibited to provide advice on investment decisions that may have a significant impact on the prices of financial investment products or to recommend sales to third parties. Transactions with discretionary investment property, collective investment property, or trust property managed by oneself are also prohibited.
Writer Park issued a statement the day before, saying, “We signed an IR (corporate information session) agency contract with Geumyang,” and added, “We received legal advice and were confirmed that there were no problems with the parallelization.” He also said regarding the approximately 12 billion won in assets he managed, “I am mainly talking about public stock funds targeting corporations,” and “there is no trading of secondary battery-related stocks.”
The Financial Supervisory Service is conducting an investigation into author Park. Author Park submitted his resignation on the 4th due to his investment in Nextera.
Author Park, a former analyst at Korea Investment Trust (now Hana Securities), led the investment craze by emphasizing the growth potential of the secondary battery industry through YouTube and other platforms. In particular, as the stock prices of secondary battery-related stocks he recommended soared, he gained fame and the nickname ‘Battery Man’.