Regarding the ruling Democratic Party and the government’s announcement on the 5th to implement a 'complete ban on short selling,' Park Soo-young, a member of the People Power Party, highly praised the decision, saying, "Our government has set the right direction."
On the 6th, Park stated on his social media (SNS), "The decision to ban short selling altogether until the first half of next year is very timely," adding, "If the financial sector does not implement institutional improvements to level the playing field by then, the ban period may be extended again."
He criticized, "Naked short selling is illegal under current law, yet it has been rampant among institutional investors, leading to criticism of a tilted playing field between institutions and retail investors," and added, "The financial authorities under the Moon Jae-in administration declared they would correct this imbalance but let five years pass without proper institutional reforms or punishments."
He further stated, "Now is the time for drastic measures," explaining, "We cannot just stand by and watch individual investors suffer again while relying solely on the financial sector’s promises for institutional improvements."
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