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

The period allocated for probing unfair trading activities within the stock market is expected to decrease significantly from the current average duration of 12 to 15 months to approximately 6 to 7 months.

This development comes in response to President Lee Jae-myung's recent order to "eliminate unfair trading," leading financial authorities to initiate the formation of a 'Joint Response Team for Eradicating Stock Price Manipulation.'

During a press conference at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a permanent member of the Securities and Futures Commission under 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 collaborate in a unified space within the exchange."

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Although the joint response team will not wield independent sanctioning powers, its primary objective is to enhance the capabilities of the Korea Exchange in expediting case processing. Previously, the stages of detection, investigation, and sanctioning were fragmented across different institutions, leading to delays. However, this plan aims to streamline processes by minimizing redundant procedures through joint efforts and creating a more efficient system.

A representative from the financial authorities noted, "By speeding up the investigation of unfair trading, we can greatly enhance investor protection and restore confidence in the market," further stating, "It will particularly allow for a more robust and swift response to significant events such as stock price manipulation."