Revealed after a meeting with the CEO of the financial investment industry at the Financial Investment Association
“Possibility of commencement of rehabilitation procedures”… Ssangyong Motor’s court officials also mentioned
[사진=연합뉴스]
“Ahead of the resumption of short selling in May, the system construction of securities companies is in the final stage, and we plan to conduct a trial operation sooner or later. Ask the CEO of each securities company to ensure that the lending information system and lending system are well maintained, and that short selling will not change. Asked to check.”
Finance Commissioner Eun Seong-su met with reporters after meeting with the CEOs of the financial investment industry at the Yeouido Financial Investment Association on the 5th. One day ahead of the enforcement of the amendment to the Capital Markets Act, Chairman Eun announced that the Korea Exchange is working on the finalization of the illegal short selling detection system before the resumption of short selling in March this year.
Chairman Eun said, “Before the resumption of short selling, the revision of the law has already been completed, and the exchange system has been completed.” There are places and there are places that they are doing, but generally there will be no problems until May 3,” he said.
He said, “I asked the representatives to check the situation of each company in advance.” I will try to be there.”
In addition, Chairman Eun commented on the court management of Ssangyong Motors. It is reported that HAAH Automotive has requested more time regarding investment decisions. He said, “We waited (for submission of the letter of intent from HAAH Automotive), but it didn’t come, and we didn’t just say we wouldn’t do it, but it seems like we asked for more time.” I think it should be done, and if there is no opinion, I think I have no intention of investing anymore,” he said.
It is observed that the Seoul Rehabilitation Court will decide whether or not to initiate the rehabilitation procedure (legal administration) as early as this week as Ssangyong Motor could not even submit a letter of intent for investment, let alone an investment contract for HAAH Automotive, until the 31st of last month. The court has also asked the creditors’ opinions on whether or not the rehabilitation process has commenced.
Chairman Eun said, “I would like to give the court an opinion that it would be nice to give the court a little more time for this reason,” he said. He emphasized, “I hope that the labor and management, creditors, and business partners will all give up and save Ssangyong Motor’s benefit to everyone’s interests, so I hope to gather a little more wisdom.”
At the conference, Chairman Eun asked for active cooperation from the financial investment business so that the Financial Consumer Protection Act can be settled quickly, and discussed major issues in the industry, such as the enforcement of the revised Capital Market Act.
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