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

The anticipated reduction in the investigation period for unfair trading activities in the stock market will see a shift from the existing average duration of 12 to 15 months to approximately 6 to 7 months.

This development is a direct consequence of President Lee Jae-myung's directive issued a month prior, aimed at the "eradication of unfair trading," which has led financial authorities to establish the '주가조작 근절 합동대응단' or stock price manipulation eradication joint response team.

During a press conference 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 under the Financial Services Commission, announced, "We intend to function a joint response team where representatives from the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will convene in a unified space within the exchange."

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Although the joint response team does not possess independent sanctioning powers, its primary objective is to augment the capabilities handled by the Korea Exchange to expedite case resolutions. Previously, the stages of detection, investigation, and sanctioning were fragmented across various institutions, leading to delays, but the current strategy aims to minimize redundant procedures through unified operations and to implement a more efficient system.

An official from the financial authority clarified, "By expediting the investigation of unfair trading, we will substantially aid in protecting investors and restoring market trust," further stating, "It will especially enhance our ability to deliver a stronger and quicker response to significant incidents such as stock price manipulation."