A week before the full resumption of short selling, a person in charge of the related investigation at the Financial Supervisory Service stepped down.
According to the FSS on the 25th, Deputy Minister Park Jae-young of the Short Selling Special Investigation Team has been reassigned to the Training and Evaluation Department. Deputy Minister Park was promoted from Head of Team to Deputy Minister at the end of last year but was dismissed from the position after just three months.
An FSS official noted, "It's due to personal reasons such as health," but there has been speculation within the organization. At the end of last year, 74 out of 75 department heads were substantially replaced during the regular personnel reshuffle, and only a few months later, there was a one-point personnel change.
Deputy Minister Park was the person responsible for establishing guidelines for internal controls of short selling and managing the balance within the organization.
Meanwhile, Deputy Minister Park's position will be filled by Seo Hyun-jae, Head of the Asset Management Comprehensive Team at the Asset Management Supervision Department.