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

The duration required to investigate cases of unfair trading within the stock market is anticipated to decrease significantly, from the previous average of 12 to 15 months to approximately 6 to 7 months.

This initiative is in response to President Lee Jae-myung's recent directive aimed at "eliminating unfair trading practices," which has spurred financial authorities to take action by forming the 'Stock Manipulation Elimination Joint Response Team.'

During a briefing at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, who is a standing member of the Securities and Futures Commission under the Financial Services Commission, communicated, "We are set to activate a joint response team. This team will bring together the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange in a single location within the exchange."

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The joint response team does not hold independent sanctioning powers; rather, its primary goal is to streamline processes at the Korea Exchange to expedite case resolutions. Previously, the processes for detection, investigation, and sanction were handled by different institutions, which led to delays. The new approach intends to cut through repetitive procedures through collaborative operations, thereby establishing an efficient and fast-responding system.

An official from the financial authority noted, "Speeding up investigations into unfair trading can play a crucial role in protecting investors and restoring trust in the market," also stating, "This approach will particularly allow for a quicker and more robust response to significant incidents such as stock price manipulation."