KISA-KRX Join Hands to Prevent 'Stock Purchase Recommendation Spam' Damage

Among mobile phone text spam, stock-related spam accounts for 9%
Sharing spam data recommending stock purchases

[Asia Economy Reporter Jin-gyu Lee] The Korea Internet & Security Agency (KISA) announced on the 18th that it has signed a Memorandum of Understanding (MoU) with the Korea Exchange (KRX) to prevent damages related to stock purchase recommendation spam.

According to the mobile text spam reports received by KISA last year, out of a total of 17.02 million cases, stock spam accounted for 1.5 million cases, representing 9% of the total. This is the third highest figure after gambling spam and illegal loan spam.

Additionally, in the past two months, KISA received a total of 22,000 stock spam cases, among which those related to COVID-19 and the April 15 general election stocks accounted for 14%, indicating an increase in stock purchase recommendation spam related to social issues. Such stock spam not only induces stock speculation but also manipulates prices by encouraging purchases, causing financial losses to investors.

In response, KISA will share stock purchase recommendation spam data with KRX, and KRX will utilize this data to designate investment caution stocks (stocks excessively involved in spam), working together to minimize damages caused by stock-related spam.

The two organizations also plan to cooperate on ▲sharing held information (stock items, status of stock purchase recommendation spam, etc.) ▲analyzing and researching stock spam and expanding the types of designated investment caution stocks ▲promoting prevention of damages related to abnormal price surges caused by stock spam such as theme stock recommendations.

Kim Seok-hwan, Director of KISA, stated, "We will not only encourage various spam response activities in the future but also expand collaboration with multiple agencies on illegal pharmaceuticals and illegal gambling to minimize social and economic damages to the public."

This content was produced with the assistance of AI translation services.