10th Anniversary of Capital Market Investigation Team Launch: "Zero Tolerance for Stock Price Manipulation"

Financial Services Commission, Seoul Southern District Prosecutors' Office, Financial Supervisory Service, and Korea Exchange Commit to Eradicating Unfair Trading
Announce Improvement Measures for Unfair Trading Response System

On the morning of the 21st, Kim Ju-hyun, Chairman of the Financial Services Commission, held a commemorative ceremony with related agencies responding to unfair trade to mark the 10th anniversary of the Capital Market Investigation Team at the Chairman's Reception Room of the Financial Services Commission in the Government Seoul Office, Jongno-gu, Seoul. (From left) Park Min-woo, Director of the Capital Market Bureau; Kim Geun-ik, Chairman of the Market Surveillance Committee; Kim Yu-cheol, Chief Prosecutor of the Southern District Prosecutors' Office; Kim Ju-hyun, Chairman of the Financial Services Commission; Kim So-young, Vice Chairman of the Financial Services Commission; Lee Bok-hyun, Governor of the Financial Supervisory Service; Kim Jeong-gak, Standing Commissioner of the Securities and Futures Commission; Han Ki-sik, Director of Investigation Planning. Photo by Financial Services Commission

The Capital Market Investigation Department (Capital Market Investigation Team) of the Financial Services Commission reaffirmed its commitment to eradicating unfair trading on the occasion of its 10th anniversary.

On the 21st, the Financial Services Commission announced that it held a 10th anniversary ceremony for the Capital Market Investigation Team at the Government Seoul Office, together with related agencies such as the Seoul Southern District Prosecutors' Office, the Financial Supervisory Service, and the Korea Exchange.

The leaders attending the event emphasized, "Capital market crimes are serious illegal acts that undermine market trust, so it is important to establish a strict response system," and added, "If criminal acts are detected, they will be strictly punished under a zero-tolerance principle."

On the day, Kim Ju-hyun, Chairman of the Financial Services Commission, stated, "Responding to unfair trading requires teamwork (collaboration) among psychological, investigative, and investigative agencies, so we will significantly strengthen the inter-agency cooperation system," and added, "We will improve market surveillance and investigation processes to effectively detect various unfair acts, promptly investigate them, and impose strict sanctions." He further said, "We will prepare thoroughly for the implementation of the penalty system together with related agencies and actively promote the introduction of additional measures and sanction methods."

Kim Yoo-cheol, Chief Prosecutor of the Seoul Southern District Prosecutors' Office, said, "As the Financial Crime Specialized Prosecutors' Office, we will concentrate investigative capabilities to thoroughly root out market-disturbing forces and beneficiaries of unfair gains," and added, "Through this, we will work organically with various agencies to protect trust in the capital market and do our best."

Lee Bok-hyun, Governor of the Financial Supervisory Service, stated, "Through organizational restructuring and personnel reinforcement in the investigation division, we have closely responded to various forms of unfair trading, including new methods, together with related agencies, and will continue to actively strive to eradicate unfair trading in the capital market based on mutual trust and cooperation."

Kim Geun-ik, Chairman of the Market Surveillance Committee of the Korea Exchange, said, "We plan to mobilize all available resources to improve the market surveillance and psychological system and to advance analytical techniques, and we will do our best to ensure that the recent improvement measures are implemented promptly and faithfully through inter-agency cooperation."

The attendees agreed that, taking the 10th anniversary of the Capital Market Investigation Team and the announcement of the recent measures as an opportunity, they will further solidify the inter-agency cooperation system and eradicate unfair trading in the capital market through strict punishment under the zero-tolerance principle.