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

The unfair trading investigation in the stock market will be reduced from 12-15 months to 6-7 months.

President Lee Jae-myung ordered a month ago to "eliminate unfair trading," leading to the launch of a financial authorities' joint response team.

During a briefing at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo of the Financial Services Commission's Securities and Futures Commission said, "A joint team with the Financial Services Commission, Financial Supervisory Service, and Korea Exchange will work together at the exchange."

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The joint team lacks sanctioning power but aims to improve the Korea Exchange's skills for quicker case handling. Previously, stages were split among institutions, causing delays. The new plan seeks to streamline procedures and speed up the process.

A financial authority official noted, "Faster investigation of unfair trading will greatly aid in protecting investors and restoring market trust," adding it will allow a quicker and stronger reaction to major incidents like stock manipulation.