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

The timeline for investigating unfair trading practices in the stock market is expected to decrease from an average of 12-15 months to approximately 6-7 months.

This change follows a directive from President Lee Jae-myung, issued a month ago, to "eradicate unfair trading," leading the financial authorities' 주가조작 근절 합동대응단 to initiate this action.

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 plans for a joint response team comprising the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange, to collaborate within the exchange premises.

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The joint response team does not possess sanctioning authority but aims to improve the processing speed of cases handled by the Korea Exchange. Previously, the investigation and sanctioning stages were spread across multiple institutions, causing delays. The joint team seeks to streamline procedures and establish a more efficient system.

An official from the financial authority stated, "Speeding up the investigation of unfair trading will greatly aid in protecting investors and restoring market confidence," noting that it will particularly enhance the response to significant incidents such as stock price manipulation.