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By Lee Kyung-min
Retail investors are unlikely to level the playing field when it comes to short-selling, despite a growing move by the ruling bloc to increase transparency in the stock market.
This is because naked short-selling ― a deeper problem ― cannot be detected in real time under the current operating system and is highly likely to remain so in the future.
Short-selling is a much-politicized financial investment method widely used by foreign and institutional investors to profit after selling borrowed shares at a lowered price in a bear market.
Naked short-selling involves selling shares without borrowing or ensuring that they can be borrowed later and is illegal.
Pandemic sinks FSC plan for 2020 Woori stake sale |
A logo of Woori Financial Group (Woori Financial Group)
A plan to sell some of the government’s stake in Woori Financial Group this year foundered due to the high market volatility triggered by the COVID-19 pandemic, the financial regulator said Wednesday.
Earlier this year, a sub-committee of the Financial Service Commission, which controls the sale of state-owned firms and shares, said it would start selling off Korea Deposit Insurance Corp.’s stake in the bank in the first half of 2020.
The plan was to sell the entire stake in phases, with the last sale completed by 2022.