Photo : YONHAP News
The government will expand a joint team that launched in July to eradicate stock manipulation, part of an initiative to guarantee fairness and order in the stock market.
The change from a single 37-member team to two teams each consisting of 25 people was decided Monday by the Financial Services Commission, the Financial Supervisory Service and the Korea Exchange.
Approximately 20 additional workers will be dispatched from the three agencies, and the two teams are likely to begin operation as early as February.
The increase in personnel is expected to expand the scope of the investigations, accelerate case processing speeds, and strengthen monitoring to cover small- and mid-cap stocks.
The latest decision follows a directive from President Lee Jae Myung to bolster the “one-strike-and-you’re-out” principle for unlawful trading.