Securities and Futures Commission (SFC) Chairman Kwon Dae-young attended the launch of a joint response team on stock market manipulation and the newly created team's signboard unveiling ceremony on July 30. The joint response team is a collaborative operation of the FSC, the FSS, and the KRX, and it aims to bolster the initial response function of KRX's market surveillance committee. At the signboard unveiling event, SFC Chairman Kwon delivered opening remarks where he emphasized the ever growing importance of capital market at international level and the need to make sure that illegal and unfair trading activities are effectively rooted out. With the establishment of a joint response team, SFC Chairman Kwon said that the physical, informational, and jurisdictional barriers and divisions that previously existed between the three organizations have been effectively removed. In addition, SFC Chairman Kwon said that the financial authorities will also seek to enhance cooperation with investigative authorities to make sure that follow-up criminal investigations and proceedings can take place more swiftly and effectively.