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

The period required to investigate cases of unfair trading in the stock market is anticipated to decrease from the traditional average of 12-15 months to approximately 6-7 months.

This change comes after President Lee Jae-myung instructed a month ago to eliminate unfair trading practices, leading financial authorities to initiate the 'Joint Response Team to Eradicate Stock Price Manipulation.'

During a press conference 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, "We intend to establish a joint response team where the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will collaborate in one dedicated space within the exchange."

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The joint response team does not possess independent sanctioning power; instead, its primary goal is to improve the Korea Exchange's handling capabilities to expedite the processing of cases. Previously, the stages of detection, investigation, and sanction were managed by different institutions, which led to delays. The new approach aims to eliminate redundant processes through coordinated operations and create an efficient system.

An official from the financial authority commented, "Speeding up the investigation of unfair trading will greatly aid in protecting investors and rebuilding market trust," further stating, "It will especially allow for a more robust and quicker reaction to significant issues such as stock price manipulation."