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

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

This development is a direct consequence of President Lee Jae-myung's mandate issued a month prior, aimed at the "eradication of unfair trading." This directive has driven financial authorities to form the 'Joint Response Team for Eradicating Stock Price Manipulation.'

During a briefing conducted 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 at the Financial Services Commission, announced, "We intend to establish a collaborative response team where the Financial Services Commission, Financial Supervisory Service, and Korea Exchange will converge within a single facility at the exchange."

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The joint response team is not endowed with independent sanctioning power; however, its primary objective is to improve the capabilities managed by the Korea Exchange to expedite case processing. Previously, the stages of detection, investigation, and sanctioning were managed by separate entities, leading to inefficiencies, but the new strategy aims to streamline these procedures through united efforts and implement an expedited system.

A representative from the financial authority articulated, "By hastening the investigation of unfair trading, we will considerably enhance investor protection and help restore market trust," further stating, "This initiative is poised to provide a more robust and swifter reaction to significant events such as stock price manipulation."