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

The duration for examining cases of unfair trading in the stock market will be condensed from the usual 12-15 months to approximately 6-7 months.

This development comes after President Lee Jae-myung called for the elimination of unfair trading practices. In response, the financial authorities implemented the 'Anti-Stock Price Manipulation Joint Response Team' initiative.

During a briefing held 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 plans for a joint response team. This team will consolidate the efforts of the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange within a single location at the exchange.

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The joint response team does not possess independent sanctioning authority. Its primary objective is to improve the processing capabilities of the Korea Exchange, expediting case resolutions. Previously, the stages of detection, investigation, and sanctioning were managed by separate institutions, leading to delays. The new approach aims to minimize redundant procedures and establish an efficient system through collaborative operations.

An official from the financial authority stated that accelerating the investigations into unfair trading will greatly aid in protecting investors and restoring confidence in the market. The official further emphasized that this approach will allow for a more robust and swift response to significant issues like stock price manipulation.