Business · Companies · 1 hr ago
Police Clear Next Securities in Toss Trade Secrets Case
Seoul police will not refer Next Securities or its associates for prosecution over alleged trade-secret theft.
Toss Securities, a South Korean brokerage, filed a complaint in January with the Seoul Metropolitan Police Agency.
It alleged that a former developer took source code and gave it to Next Securities, involving technology for an overseas stock trading system.
Next Securities said it had not hired the developer and had not received or used Toss Securities’ confidential information.
Police said there was not enough evidence or no crime under the law.
The decision ends this police investigation without a referral for prosecution; no further steps are stated.
Police cleared Next Securities and people associated with it in a case over alleged leakage of Toss Securities’ trade secrets.
The Seoul Metropolitan Police Agency said there was insufficient evidence or no crime under the law.
Toss Securities filed a complaint in January, alleging a former developer took source code and passed it to Next Securities.
Next Securities told investigators it had not hired the developer and had not received or used Toss Securities’ trade-secret information.
- Who
- Next Securities and people associated with the company were cleared. Toss Securities filed the complaint.
- What
- Police issued a non-referral decision, finding insufficient evidence or no crime under the law in the alleged trade-secret case.
- When
- Police made the decision on October 31. The case was reported on November 3, 2026.
- Where
- Seoul, South Korea.
- Why
- Toss Securities alleged that a former developer took source code and passed it to Next Securities. Police said the evidence was insufficient or the alleged conduct did not constitute a crime.
Toss Securities
Next Securities
Alleged conduct
Toss Securities
Toss Securities alleged a former developer took its source code and passed it to Next Securities, leading to unauthorized transfer and use of key technology for an overseas stock trading system.
Next Securities
Next Securities said it had not hired the developer and had not received or used Toss Securities’ trade-secret information.
Case assessment
Toss Securities
Toss Securities filed a complaint with the Seoul Metropolitan Police Agency in January.
Next Securities
Police found insufficient evidence or that a crime was not established under the law, and issued a non-referral decision.
Toss Securities filed a complaint alleging its former developer took source code and passed it to Next Securities.
Seoul police issued a non-referral decision for Next Securities and people associated with it.
Yonhap reported the police decision.
- Police unit
- Seoul Metropolitan Police Agency’s Industrial Technology Protection Investigation Unit
- Decision date
- October 31, 2026
- Complainant
- Toss Securities
- Company cleared
- Next Securities
- Alleged material
- Source code and technology related to an overseas stock trading system