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

The investigation time for stock market unfair trading cases will decrease from 12-15 months to approximately 6-7 months.

President Lee Jae-myung, a month ago, instructed to "eradicate unfair trading," leading to the creation of a joint response team by financial authorities.

At a briefing at the Korea Exchange in Yeouido, Seoul, on the 9th, Lee Yoon-soo from the Securities and Futures Commission of the Financial Services Commission announced the joint team will include the Financial Services Commission, Financial Supervisory Service, and Korea Exchange collaborating in one location.

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The joint response team lacks sanctioning powers but aims to improve case handling speed at the Korea Exchange. Previously, stages of detection, investigation, and sanction were spread across institutions, causing delays. The plan is to streamline these processes with joint efforts.

A financial authority official stated, "Quicker investigations into unfair trading will notably enhance investor protection and market trust," adding that it will allow a more effective response to significant issues like stock price manipulation.