The Korea Stock Investors Association (KOSIA), a group of individual investors, requested a responsible investigation and measures to prevent recurrence from the financial authorities regarding the SG Securities-induced crash on the 1st.


In a statement released that day, KOSIA pointed out, "This incident is a foreseen disaster in the stock market caused by stock manipulation forces abusing Contracts for Difference (CFD)."


They added, "The Financial Services Commission and related agencies are not free from responsibility for the fact that the failure to establish fundamental measures regarding CFDs and letting the issue slide ultimately led to this incident."


They continued, "We demand a responsible investigation and measures to prevent recurrence from the financial authorities regarding this incident, which wiped out approximately 8 trillion won in market capitalization and created numerous victims."


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KOSIA also urged a thorough investigation into the sale of shares by major shareholders such as Kim Ik-rae, Chairman of the DaouKiwoom Group, and Kim Young-min, Chairman of Seoul City Gas, as well as the financial authorities' delayed response.


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