Financial Supervisory Service Governor Zhin Woong-seob has vowed to boost the monitoring of markets and crack down on unfair trading amid rising geopolitical risks on the Korean Peninsula.
 
Zhin made the pledge on Tuesday during the financial watchdog's emergency meeting that reviewed market conditions in the wake of geopolitical risks on the peninsula.
 
The agency said that though North Korea-related geopolitical risks are on the rise, the nation’s financial market is stable, citing that stocks, exchange rates and interest rates remain unchanged and the capital market is seeing inflow of foreign capital.
 
The agency added that key investment banks have assessed that there is no need to devise special countermeasures given that no particular signs related to Pyongyang have been spotted in South Korea’s foreign exchange and capital markets.
 
The agency stressed that it will sternly deal with acts of spreading groundless rumors in the stock market and swiftly conduct crackdowns if signs of unfair transactions are spotted in particular items related to defense industries.
 
The agency will also work with the Financial Services Commission to further crack down on illegal transactions related to short stock selling.
 

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