Asia-Pacific

SKorea police: Blast suspect aimed for stock gains

(Agencies)
Updated: 2011-05-15 16:35

SEOUL, South Korea - South Korean police say a series of explosions in the capital last week may have been orchestrated by a man seeking to gain profits by crashing stock markets.

Small fires erupted Thursday at two Seoul transportation centers and police believe the incidents were caused by explosives made of firecracker powder and butane gas canisters stored in lockers.

No casualties were reported.

Police said Sunday that they had arrested a 43-year-old man who allegedly attempted to use the blast to send stock prices plummeting and reap profits from his investments in future options.

Police also arrested two other men who allegedly bought explosive materials and placed them in the lockers at the order of Kim.