(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Jisun] According to Jung Eun-bo, the Chairman of the Korea Exchange, it is expected to take at least 10 months or even up to a year to develop a computer system capable of inspecting and blocking illegal short selling. It appears difficult for short selling to resume within this year.

On the 26th, according to the Korea Exchange, Chairman Jung stated at a press conference commemorating his 100th day in office, held at the exchange's Seoul headquarters, "I think it will take about a year for the development of the short selling computer system, and if we make considerable efforts, it could be shortened to about 10 months."

He further emphasized, "Efforts to shorten the time are important, but shortening alone is not enough. It is also crucial how stable a detection system can be developed."

Previously, the Presidential Office reaffirmed its position that short selling would not resume until the short selling computer system is fully developed. Following this principle, it seems difficult for short selling to resume within this year.

In response to a question about whether short selling will continue to be suspended until the system is completed, Chairman Jung stated, "The policy direction regarding short selling will soon be decided, taking into account various aspects such as the technical aspects of the Financial Services Commission, the Financial Supervisory Service, and the exchange."

 

 

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