Chairman of Monetary Supervisory Service Urges Readability on Quick Promoting Resumption Plans

Supply time2024-05-23 19:00

“‘Partial restart in June’ is private greed… Even when it would not restart, the timing and schedule have to be introduced.”

(Seoul = Yonhap Information) Reporter Chae Sae-rom = Concerning the controversy surrounding the coverage inconsistency relating to the resumption of brief promoting, Lee Bok-hyeon, head of the Monetary Supervisory Service, mentioned, “We’re reviewing numerous choices relating to the potential for brief promoting resumption, methodology and timing of resumption, and many others.”

Director Lee appeared on KBS2’s ‘Financial Live performance’ on the afternoon of the twenty third and mentioned, “We should clarify if it is going to resume in June and when, and if it would not resume, by what requirements brief promoting will resume sooner or later.”

Concerning the current controversy surrounding his assertion to renew some brief promoting, he defined, “I used to be speaking about my private need to renew some brief promoting, and even when it wasn’t doable, I used to be saying it with the supposed to extend predictability. when and the way it may very well be resumed.”

Beforehand, Director Lee just lately met with reporters instantly after an funding briefing (IR) in New York, USA and mentioned, “My private greed or plan is to partially resume brief promoting in June,” and added, “Even when there are technical and organizational shortcomings, we’ll take heed to the opinions of stakeholders and determine on a selected timetable.” “We have to talk with the market that we’re pursuing to reopen,” he mentioned.

Afterward, because the market fluctuated, the President’s Workplace mentioned the day earlier than, “Quick promoting won’t resume till the issue of unlawful brief promoting is resolved and a system that buyers can belief is established.” The Monetary Supervisory Service’s feedback have been a private want made within the strategy of gathering stakeholders’ opinions “He drew a line.

In response to this, consideration was drawn to the truth that there may very well be a sequence of coverage confusion between authorities ministries and the President’s Workplace following the federal government’s current announcement of a ban on direct shopping for overseas.

Director Lee added, “The precept of creating choices associated to brief promoting has not modified for the reason that system was established,” and added, “Even in relation to the rise in worth, there may be numerous requests from overseas buyers to be told of the timetable for when a brief sale shall be accredited.”

In response to the purpose that if brief promoting partially resumes primarily in massive cap shares, the inventory costs of enormous cap shares will fall and theme shares will develop into polarized, he mentioned, “If shares of the primary class are bought brief at a time when the pc system is full and brief promoting is able to resume, the inventory value will rise or the buying and selling quantity will enhance considerably.” “It might work in a single course,” he defined.

Concerning the criticism that the federal government’s value-up program will not be obligatory, Director Lee mentioned, “We’re prepared to implement a shareholder-friendly coverage voluntarily to start with and later to create an index in order that pension funds and administration firms can funding belongings. “

He careworn that there is no such thing as a chance of a disaster within the monetary sector persevering with because of the monetary authorities’ just lately introduced plan to normalize the financing of actual property (PF) initiatives.

Director Lee mentioned, “As a result of we now have finished numerous intensive danger administration work over a protracted time period, there is no such thing as a chance of focus or insolvency because of the PF normalization plan,” and added, “The bottom line is to stop ‘hardening’. cash’ and create a virtuous cycle construction for regular workplaces.”

Concerning the criticism that the normalization plan was launched after the overall election, he mentioned, “Firstly of the 12 months, occasions reminiscent of financial institution runs continued at Silicon Valley Financial institution (SVB), Credit score Suisse, and Saemaeul Geumgo, and Taeyoung Building.[009410] “After going by means of the train, I gained confidence in restructuring,” he defined “When it comes to timing, the settlement of the primary half of the 12 months is necessary for monetary firms, so it’s significant that we now have offered steerage on the plan of inside this month. and was that mirrored within the June settlement.”

srchae@yna.co.kr

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2024/05/23 19:00 Despatched