韩国将严厉打击非法股票交易

Group 1 - South Korea's three major financial institutions have decided to establish a "Joint Task Force for Combating Stock Price Manipulation" by the end of this month [1][2] - The task force will conduct joint investigations into significant manipulation cases and enforce a "one violation, lifetime delisting" principle for unfair trading practices [2] - The KOSPI index reached its highest closing level in nearly four years, closing at 3133.74 points, with a trading volume of 6.373 billion shares and a total transaction value of 12.5 trillion KRW [2] Group 2 - President Lee Jae-myung's administration aims to boost the stock market, which has faced significant challenges, including a power vacuum and substantial foreign capital outflows [2][3] - Key initiatives include corporate governance reforms, a supplementary budget of at least 30 trillion KRW to stimulate consumption, and significant investments in AI and semiconductor industries [3] - The government plans to invest 100 trillion KRW in AI development and infrastructure, aiming to create a large language model and open-source it [3] Group 3 - The current administration is seen as making historic commitments to shareholder rights, addressing the root causes of the "Korean discount" in the market [4] - Previous attempts by past presidents to resolve shareholder issues have been largely ineffective, with only 14% of companies participating in voluntary value enhancement plans [4] - The proposed amendments to the Commercial Act will clarify the fiduciary duties of directors to shareholders, contrasting with the current law that prioritizes the interests of major shareholders [4] Group 4 - South Korea lifted its ban on "naked short selling" on March 31, 2023, which had been illegal and was previously enforced to stabilize the market during the pandemic [5] - The Financial Services Commission has imposed significant penalties on BNP Paribas and HSBC for repeated violations of short-selling regulations, totaling 2.03 million USD [5] - Following the discovery of large-scale illegal short-selling operations, the Financial Services Commission decided to ban short selling in the stock market until June 2024, with severe penalties for illegal profits [6]