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

The duration for probing unfair trading activities in the stock market is anticipated to decrease from the usual 12-15 months to approximately 6-7 months.

This development follows a directive issued by President Lee Jae-myung a month ago to "eradicate unfair trading practices," leading financial authorities to initiate the joint response team effort.

During a briefing at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a commissioner 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 collaborate in a shared space within the exchange."

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The joint response team does not possess sanctioning power but is primarily focused on enhancing the capabilities of the Korea Exchange to expedite case processing. Previously, the stages of detection, investigation, and sanction were scattered across different institutions, resulting in delays. The new plan aims to minimize redundant steps through collaborative operations and implement a faster system.

An official from the financial authority commented, "Speeding up the investigation process for unfair trading will play a crucial role in protecting investors and rebuilding market trust," further stating, "Specifically, it will allow for a more robust and swift response to significant incidents such as stock price manipulation."