The Financial Services Commission held a meeting on November 5 where the authorities decided to ban all stock short selling in domestic markets (all KOSPI, KOSDAQ and KONEX listed items) effective from Monday, November 6, 2023 until the end of June 2024. FSC Chairman Kim Joo-hyun and FSS Governor Lee Bok-hyun gave a joint media briefing after the meeting and explained the government's decision to ban short selling. While short selling ban is in place, the government will promptly work on measures to improve the short selling system through close consultation with market experts and relevant institutions. Details about the improvement measures will be open to public discourse and the authorities will actively participate in the legislation process at the National Assembly. FSC Chairman Kim Joo-hyun said that the top priority of the government’s capital market policy is to create a fair and efficient market to protect investors and ensure confidence in the market. In this regard, Chairman Kim said that the government will do all it can to bring improvements to the country’s short selling system, so that it can develop into one in which every investor can have confidence.