SEOUL (Reuters) – A new South Korean stock market monitoring system to detect illegal short-selling is expected to be implemented from the first quarter of 2025, Lee Bok-hyun, governor of the Financial Supervisory Service, said in a radio interview on Monday.
The new mechanism, which was proposed in April, has been touted as a prerequisite in order to lift a market-wide ban on short-selling imposed since November, as authorities seek to prevent illegal trading practices by foreign investment banks.
In the interview, Lee repeated his earlier comment that he personally hoped to partially lift the ban in June or at least provide investors a timeline on when and under what conditions it would be lifted.
(Reporting by Jihoon Lee; Editing by Ed Davies)
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