Short-selling Party-Government Council Held...Ruling Party Urges Government to Improve System
The People Power Party announced on the afternoon of the 5th that it held a closed-door high-level party-government consultation meeting at the Prime Minister's official residence in Jongno-gu, Seoul, to discuss measures related to short selling. The People Power Party urged the government to improve the short selling system.
Yoo Ui-dong, Chairman of the Policy Committee of the People Power Party Photo by Yonhap News
View original imageYu Eui-dong, the chairman of the People Power Party's Policy Committee, explained during a briefing on the results of the closed-door high-level party-government consultation held at the National Assembly Communication Office that day, "We conveyed all the issues circulating in the market to the government without any omission," and added, "We demanded that the government take our requests seriously."
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Short selling is an investment technique where an investor sells stocks they do not own, anticipating that the stock price of a particular company will decline, in order to gain profits. Recently, illegal short selling involving hundreds of billions of won by global investment banks (IBs) such as BNP Paribas and HSBC was uncovered.
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