People Power Party's Political Affairs Committee Member Visiting Exchange: "Strict Crackdown and Surveillance on Illegal Short Selling Needed"

[Asia Economy Reporter Naju-seok] Lawmakers from the People Power Party's Political Affairs Committee visited the Korea Exchange to request crackdowns and monitoring of illegal short selling.

On the 3rd, Representative Seong Il-jong of the People Power Party and others visited the Korea Exchange to examine the short selling monitoring system and market surveillance system, and reviewed the financial authorities' response measures to illegal short selling such as naked short selling.

Photo by Seong Il-jong, Office of the People Power Party Lawmaker

The financial authorities had previously banned short selling in March last year after stock prices plummeted due to COVID-19, then extended the ban twice in September last year and March this year, before partially resuming it on this day.

Representative Seong said, "Please thoroughly crack down on and monitor illegal short selling so that individual investors can feel secure," and added, "Please send a strong message externally that the law will be strictly enforced to prevent market disruption."

Son Byung-doo, Chairman of the Korea Exchange, said, "We are well aware of the market instability and concerns caused by the resumption of short selling," and added, "It is analyzed that the proportion of short selling in today's trading volume is low and the overall market impact is minimal."

This visit, initiated by Representative Park Soo-young of the People Power Party, was attended not only by Representative Seong but also by Representatives Kang Min-guk, Kim Hee-gon, Park Soo-young, Yoon Doo-hyun, and Yoon Chang-hyun.

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