Reconsideration
Financial Supervisory Service chief Lee Bok-hyun said on April 3 that the current temporary short selling ban in the South Korean stock market will be lifted only after financial uncertainties related to interest rates and other factors are gone.
On March 29, he said at a Bloomberg interview that he was considering lifting the ban. Many individual investors objected immediately, and he retracted his statement to pacify them.
“Most of the current financial uncertainties have to do with high interest rates and I'd like to stress that the short selling ban would not be lifted until the very fundamental causes of the uncertainties are eliminated,” he said, adding, “The authorities will listen closely to investors so that mistakes can be minimized.”