Eun Sung-soo: "Extension of Short Selling Ban Will Be Decided Considering the Ongoing COVID-19 Situation"

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] Eun Sung-soo, Chairman of the Financial Services Commission, stated that the decision on whether to extend the short-selling ban, which is in effect until September this year, will be made considering the ongoing COVID-19 situation.

Chairman Eun made this remark on the 29th during a plenary session of the National Assembly's Political Affairs Committee in response to a question from Jeon Jae-soo, a member of the Democratic Party of Korea, regarding the extension of the short-selling ban.

Chairman Eun said, "We plan to hold a public hearing in August to gather opinions related to short selling," adding, "The short-selling ban was implemented due to the COVID-19 situation, and we will also take into account that the pandemic has not yet ended." This implies that the extension of the short-selling ban is under consideration.

Previously, the Financial Services Commission banned short selling for six months until September 15 to mitigate stock market volatility caused by the spread of COVID-19.

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