We examine insider trading on the dividend record date in the Korean stock market. Unlike companies listed in other major stock markets such as the U.S, companies in the Korean stock market have decided the amount of dividend after the dividend record date. This is when companies finalize their shareholders who have the right to receive dividend. In other words, it is possible that the manager may get private information of the upcoming dividend of their company in advance and trade their company's stocks by using it in Korea. Consistent with our expectation, we find that managers buy stocks of their company on the dividend record date when the company is going to distribute dividend to its shareholders. We show that the results are consistent through the window of [-1, 0] and [-3, 0]. Moreover, by testing companies listed in the Korean Securities Dealers Automated Quotations (KOSDAQ, NASDAQ equivalent in Korea), we find that the results are pronounced in larger information asymmetry. Our findings indicate that insiders in Korea take advantage of their private information to make profits using dividend and lend support for the new Korean government policy that guides companies to determine dividend amounts and share this information with their shareholders before the dividend record date.