South Korea authorities are investigating whether or not Hyundai used undisclosed data to revenue from share buying and selling earlier than revealing its “Apple Automotive” talks had ended.

Between asserting that it was working with Apple on the “Apple Automotive,” after which revealing that talks had been over, Hyundai noticed its share worth rise 21%. Now the South Korea inventory trade goes to research whether or not the automobile producer profited from any “wrongdoing” throughout this era.

Based on Reuters, the chairman of the area’s Monetary Companies Fee (FSC), Eun Sung-soo, has advised a parliament committee that investigations might start subsequent week.

“Critiques are to look at whether or not there’s any suspicion (of wrongdoing) or not,” a spokesperson advised Reuters. “The size of such evaluations varies with every case, and the trade will talk findings to the FSC.”

Reuters calculates {that a} dozen Hyundai executives traded some 3,400 shares, price roughly $753,000 in whole.

It has been alleged that one motive for the talks between Apple and Hyundai ending had been that the automobile firm had introduced the discussions, and Apple wasn’t completely happy about that. Hyundai, and its guardian firm Kia, had additionally commented publicly that they had been “agonizing” over whether or not to work with Apple.

Individually, analysts have claimed that Apple is in a form of “relationship sport” sequence of discussions with a number of completely different automobile producers. It is advised {that a} formal “Apple Automotive” announcement could also be made in 2021.