President Lee Jae-myung warned that the era of making profits through rule violations in stock manipulation has ended, calling for strict enforcement against offenders.
On November 5, President Lee Jae-myung of South Korea issued a stern warning to stock manipulators, stating that the time when one could profit by breaking rules is over. This statement was made through a post on social media, where he shared news about the National Tax Service conducting audits on companies involved in stock price manipulation and taking actions against them. He emphasized that those who rely on unfair systems to gain profits will no longer find success under his administration's policies.
President Lee highlighted the government's commitment to uphold fair practices in the financial markets, stressing that his administration's primary goal is to make it impossible for people to benefit from unjust systems. He underscored that the government, representing the people's sovereignty, will not tolerate deceptive practices that harm the economy and market integrity. His previous comments on March 25 also highlighted the severe consequences of stock manipulation, promising substantial rewards for whistleblowers.
This renewed warning comes amidst heightened concerns over financial irregularities in South Korea's stock market. The government's assertive stance against financial crimes reflects a broader commitment to restoring public confidence in market regulations and ensuring that all investors play by the same rules. The administration is making it clear that henceforth, individuals engaging in unethical financial operations will be held accountable and face serious repercussions.
