Financial watchdog to continue efforts for value-up scheme, lifting of short-selling ban

SEOUL, Dec. 10 (Yonhap) -- South Korea's financial watchdog vowed Tuesday to continue implementing a series of market-boosting measures, including its corporate value-up program, corporate governance improvement scheme and the lifting of a stock short-selling ban.

In a meeting with analysts from global investors in Seoul, Financial Supervisory Service (FSS) chief Lee Bok-hyun also said the country will continue efforts for market deregulation to woo foreign investment.

The FSS chief stressed that the abolition of the planned financial investment income tax, the revision to the capital market law and other measures will be carried out despite the political turmoil caused by President Yoon Suk Yeol's martial law announcement, which was rejected by the National Assembly.

In particular, the watchdog said it will lift the ban on stock short selling in March next year as scheduled after completing building a computerized monitoring system on illegal short selling.

During the meeting, foreign investors stressed that downside risks to the economy will grow should political uncertainties last longer than expected at a time when the chipmaking industry is in a slump amid looming tariff hikes under the incoming Trump administration.

sam@yna.co.kr
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