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

Currently, investigations into instances of unfair trading in the stock market take approximately 12 to 15 months. However, this timeframe is anticipated to be reduced to about 6 to 7 months.

This development stems from President Lee Jae-myung's recent directive to "eliminate unfair trading practices." In response, financial authorities have activated the ‘주가조작 근절 합동대응단’ initiative.

During a briefing held at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a member of the Securities and Futures Commission of the Financial Services Commission, elaborated, "We intend to implement a joint response team. This team will unify the efforts of the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange within a single space at the exchange."

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Although the joint response team will not independently possess sanctioning power, its primary objective is to bolster the capabilities of the Korea Exchange in expediting case resolutions. Traditionally, the detection, investigation, and sanction process was fragmented across various institutions, leading to procedural delays. By conducting joint operations, the aim is to streamline processes, minimize redundancies, and establish an accelerated system.

A representative from the financial authorities noted, "By expediting investigations into unfair trading, we can significantly bolster investor protection and restore trust in the market." Furthermore, it will particularly enhance the speed and effectiveness of responses to significant incidents, such as stock price manipulation.