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

Unfair trading probes in the stock market will now take around 6-7 months instead of the usual 12-15 months.

This change follows President Lee Jae-myung's order to eliminate unfair trading, prompting the financial authorities to form a 'joint response team'.

Lee Yoon-soo of the Securities and Futures Commission announced at the Korea Exchange in Seoul on the 9th that a joint team with the Financial Services Commission, Financial Supervisory Service, and Korea Exchange will be set up within the exchange.

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The joint team won't have sanctioning powers but aims to improve Korea Exchange's skills for quicker case handling. Previously, separate detection, investigation, and sanction steps led to delays, but joint operations will streamline procedures for faster results.

A financial authority official noted, "Speeding up unfair trading investigations is crucial for investor protection and restoring market trust," emphasizing quicker and stronger responses to significant incidents like stock manipulation.