Hyundai Motor was investigated by the stock exchange, Apple's electric car negotiations involved insiders

Hyundai Motor's and Apple's electric car deal has alarmed the South Korea Association because it was reported that the group's top executives had used this information to seek improper interests and will be investigated by the stock exchange.

Since January 8th, media have reported that Hyundai Motor and Apple will jointly produce electric vehicles, and the stock price has started to soar. However, from January 11-27, a total of 12 senior executives sold their holdings. Then there was negative news that caused the stock price to plummet. South Korean public opinion was angry about this and urged Congress to investigate.

A spokesperson for the South Korea Stock Exchange pointed out that a review will begin shortly to determine whether Hyundai Motor's executives seek improper gains through inside information related to the Apple transaction, and submit a report to the financial regulator. Current information shows that since media reports, several senior executives have traded stocks worth nearly 833 million won and approximately more than 750,000 US dollars.

Public opinion believes that they may have long known that the negotiations did not go as smoothly as reported, so they sold the shares. Of course, there is also an optimistic atmosphere behind this that will lead investors to favor Hyundai. When Chairman Zheng Yishan took over, he outlined a bold future technology blueprint, not only for electric vehicles but also for businesses such as aircraft and robots, which was quite bold. Therefore, the news of the cooperation with Apple this time did not surprise the market.

According to the regulatory filing documents, although the negotiations between Kia and Apple fell through, discussions on Hyundai's self-driving system continue. Hyundai Motor is the world's fourth-largest automaker and still a powerful partner of Apple. It is worth mentioning that market analysts still have confidence in Apple's specific Apple Car cooperation plan this year. They believe that even if it is not for Kia, they will definitely contact multiple manufacturers at the same time.

Nissan also denied the news a few days ago, but it also highlights that Apple is choosing a "dating" partner. For example, Volkswagen Motors also considers Apple's ideal partner, and also has a modular electric vehicle platform, and Hon Hai has also been buzzing before, but this news is still uncertain.