Stock price manipulation investigation shortened by up to half... 'Joint Response Team' launched

Unfair trading investigations in the stock market, which typically last 12-15 months, are anticipated to be expedited to approximately 6-7 months.

This development follows President Lee Jae-myung's recent instruction to "eradicate unfair trading," which prompted financial authorities to initiate the 'Joint Response Team for Eradicating Stock Price Manipulation'.

During a briefing at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a standing member of the Securities and Futures Commission of the Financial Services Commission, announced, "We intend to establish a joint response team, where the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will operate collectively within the exchange."

.

The joint response team will not function as an independent entity with sanctioning power; its primary goal is to improve the case handling process at the Korea Exchange to expedite investigations. Previously, the stages of detection, investigation, and sanction were handled by separate institutions, leading to delays, but joint operations aim to streamline procedures and speed up the process.

A representative from the financial authority stated, "Speeding up unfair trading investigations will play a crucial role in protecting investors and restoring confidence in the market," further noting, "It will particularly enhance the ability to respond more effectively and swiftly to significant incidents like stock price manipulation."