[Alpha Biz=(Chicago) Reporter Paul Lee] Kim Joo-hyun, chairman of the Financial Services Commission, hinted at measures to deal with the recent "outstanding incident" related to Youngpoong Paper's stock price manipulation, saying, "I agree with the lack of risk management."

At the comprehensive audit of the Financial Services Commission and the Financial Supervisory Service by the Political Affairs Committee held at the National Assembly on the 27th, Chairman Kim said, "I know that in cases like Kiwoom Securities, there are criticisms that 'risk management was too inadequate and indifferent,' and I agree to a large extent.” revealed.

Chairman Kim also said, "It is a kind of credit loan," and "I will take care of it."

Earlier, four people, including Yoon, who was accused of manipulating the market price of Youngpoong Paper (006740), committed the crime by mobilizing nearly 100 accounts. In the process, these groups were found to have manipulated stock prices through Kiwoom Securities.

At that time, Kiwoom Securities maintained Youngpoong Paper's margin at 40% until the 18th, when the lower limit took place, while other securities firms raised the margin to 100%. It has been pointed out that stock price manipulation forces have abused this to become a window for market price manipulation.

 

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