Financial Authorities to Explain Short Selling System Improvement Measures at the National Assembly on the 13th

Attendance of Kim Juhyun, Financial Services Commission Chairman, and Lee Bokhyun, Financial Supervisory Service Governor, etc.

The government and the ruling party will hold a Minjung Party Council meeting at the National Assembly on the 13th to discuss measures to improve the short-selling system. From the right, Kim Juhyun, Chairman of the Financial Services Commission, and Lee Bokhyun, Governor of the Financial Supervisory Service.
[Image source=Yonhap News]

The government and the ruling party will hold a Min-Dang-Jeong Council meeting at the National Assembly on the 13th to discuss measures to improve the short selling system.

According to the National Assembly on the 12th, the Financial Services Commission plans to attend the Min-Dang-Jeong Council meeting held at 10:30 a.m. on the 13th at the National Assembly in Yeouido, Seoul, to explain the direction for improving the short selling system.

The agenda item on improving the short selling system is expected to include matters related to the stock borrowing repayment period and collateral ratio. The decision on whether to resume short selling will be made at a later Financial Services Commission meeting, but the resumption is expected to occur after the establishment of the IT system.

The Financial Supervisory Service will also explain plans for building an IT system to monitor illegal short selling. The official name is the "Illegal Short Selling Central Blocking System (NSDS)," which the Korea Exchange is aiming to complete by March next year.

Attendees from the political sector include Floor Leader Choo Kyung-ho, Policy Committee Chairman Jeong Jeom-sik, Chair of the Special Committee on Livelihood Economy Stability Kim Sang-hoon, Senior Deputy Floor Leader Bae Jun-young, Senior Floor Spokesperson Jang Dong-hyuk, and Secretary to Floor Leader Jeong Hee-yong.

From the government side, Financial Services Commission Chairman Kim Joo-hyun and Financial Supervisory Service Governor Lee Bok-hyun will attend, and from the private sector, Korea Exchange Chairman Jeong Eun-bo, Korea Securities Finance Corporation President Kim Jeong-gak, Korea Securities Depository President Lee Soon-ho, and Korea Financial Investment Association Chairman Seo Yoo-seok are expected to participate. The main agenda reports will be handled by Financial Services Commission Senior Executive Director Lee Yoon-soo and Financial Supervisory Service Deputy Governor Ham Yong-il.