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

The planned duration for inquiries into unjust trading activities in the stock exchange is projected to decrease from the previous range of 12-15 months to an estimated 6-7 months.

This strategic shift comes in response to President Lee Jae-myung's recent mandate to "eliminate unfair trading," which has led to the financial authorities initiating the 'Eradication of Stock Manipulation Joint Response Team.'

During a press conference at the Korea Exchange located in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a standing member of the Securities and Futures Commission under the Financial Services Commission, announced, "We intend to implement a joint response team where the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will convene in a single venue within the exchange."

.

The joint task force does not possess independent sanctioning power; however, its primary objective is to bolster the efficiency of processes overseen by the Korea Exchange to expedite case resolutions. Previously, the stages of detection, investigation, and sanctioning were distributed across different entities, leading to procedural delays. The new approach seeks to eliminate redundant steps through collaborative operations and to establish a more expedited system.

A representative of the financial authority noted, "Speeding up the investigation of unfair trading will greatly contribute to the protection of investors and the re-establishment of market credibility," emphasizing that "it will allow for a more robust and prompt response to significant occurrences such as stock price manipulation."