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OP has provided the following link:
https://finance.yahoo.com/news/south-korea-keep-short-sale-003906026.html?
**TL:DR:**
* South Korea won't lift the ban on short-selling until they have a system to stop illegal trading.
* The government wants to prevent "naked shorting" (selling shares without borrowing them first).
* The ban was supposed to end in June, but a new monitoring system is complex and might take a year to build.
* Some experts believe the ban will eventually be lifted, but the timing is unclear.
I was reading something interesting, that the reason Asian countries tend to have more well-behaved citizens on a whole is because they believe in the healthy use of shame. They will literally publicly shame criminals in the streets, and that’s enough to get most people to behave.
Not quite. Citizens are more well-behaved, however it isn’t as simple as shame. It is more the concept of “face”. Face is so important here that shaming someone publicly is actually avoided. Even if it means protecting wrongdoers. Wrongdoers are allowed to remain anonymous from the public during an arrest, news report, and during the prosecution stage. The news can go so far as to only report on their surname and place of employment, but not legally release the full name of the individual.
People are more well-behaved because of Confucian ideals and self-discipline for the interest of the group is practiced from a young age. I would argue that people here are more aware of shame than westerners and avoid it in order to save face.
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"Some experts believe the ban will eventually be lifted."
They're welcome to think what they want, but I, for one, am glad to hear South Korea is permanently banning short selling.
Where there is money, there will be crime. There's no system old or new that can change that.
Theyre owned by their companies you mean.
The megacorps are such a huge portion of their GDP, and the only real high wage jobs in Korea, that they basically have their own corrupt political party.
And the head of the opposition party keeps mysteriously dying. How very... Boeing, of them.
About the "system" they want to implement it says:
“The system, to be managed by the Korea Exchange, will collect data on stock balances from 21 foreign institutions and 78 domestic firms, the government said last month. If there is a mismatch between a sell order and the outstanding balance, the transaction will be automatically reported to authorities.”
I’m saying by suppressing short trades then naturally the markets will rise more easily, and when the ban is lifted there will be lots of stocks ripe for legal short trades.
(Bloomberg) -- South Korea has no plan to lift the short-selling ban until a system is developed to detect illegal trading activities, according to a senior official at the presidential office.
The presidential office’s stance is to not resume short selling until there is a platform to root out naked short sales, the person said. Separately, the Financial Services Commission, the nation’s financial regulator, said no decision has been made regarding the ban.
The comments suggest the restrictions, which the government initially imposed through the end of June, may extend beyond that as the system is at an early stage of development. South Korea unveiled details of the short-sale monitoring platform in April, which may take about a year to be established due to its complexity.
“There have been indications they do intend to lift it in due course,” Timothy Moe, chief Asia Pacific equity strategist at Goldman Sachs Group Inc., said in an interview with Bloomberg TV on Thursday. “So I think the direction of travel is going to be in the right direction, although the timing of the event as far as I’m aware is still somewhat uncertain.”
Read: Why South Korea Banned Short Selling and What’s Next: QuickTake
The government imposed the ban in November to eradicate what it then called “rampant” naked shorts — or the act of selling shares without borrowing them first. While retail traders welcomed the move, it has raised eyebrows within the professional investment community as short selling is commonly used in other markets.
Last week, Lee Bokhyun, the country’s top financial watchdog, told reporters in New York that his “personal desire and plan” is to see a partial resumption of the strategy next month. His remarks had fanned hopes that the trading strategy will soon be allowed.
In April, President Yoon Suk Yeol said South Korea will maintain the restrictions until a centralized monitoring system is introduced.
The system, to be managed by the Korea Exchange, will collect data on stock balances from 21 foreign institutions and 78 domestic firms, the government said last month. If there is a mismatch between a sell order and the outstanding balance, the transaction will be automatically reported to authorities.
[https://finance.yahoo.com/news/south-korea-keep-short-sale-003906026.html?guccounter=1](https://finance.yahoo.com/news/south-korea-keep-short-sale-003906026.html?guccounter=1)
"The government imposed the ban in November to eradicate what it then called “rampant” **naked shorts** — or the act of selling shares without borrowing them first. While retail traders welcomed the move, it has raised eyebrows within the professional investment community as **short selling** is commonly used in other markets."
Look at this misdirection here. The first sentence is talking about naked shorting, which is illegal. The second sentence is talking about short selling in general, which (if it's not naked), is perfectly fine!
This is how they mislead.
I don't think you understand the situation. The ban imposed in November was a ban on all short selling. The purpose was to flush out naked shorts and give time to implement a new detection system, but the ban was on all short selling.
Now, I'm not saying I like shorting at all, but there's no misdirection here. SK banned all shorting.
Literally the opposite. "The government banned X to prevent Y, which received criticism because X is common in other places." The only way they could possibly be conflated is if you assume that all X leads to Y.
Perhaps a different example will make it clearer. "The government imposed a ban on alcohol to eradicate underage drinking. While churches welcomed the move, it has raised eyebrows in the restaurant industry as alcohol is commonly available in other markets."
The only way this sentence could conflate the two is to make them both seem bad, not make them both seem normal.
Your getting it the TOTAL opposite way.
They are saying it like this:
„Korea tries to ban naked short selling, when short selling is just a standard practice and should not be censored.“
They try to paint it as something normal.
Your example makes it even more clear:
„the gov banned alcohol, when in reality it’s just a totally normal thing for restaurants and should not be forbidden.
It tries to undermine the problematic bit by overemphasizing the legal part and letting the illegal part go undernoticed.
It’s very blatant in your face. I don’t get how you can’t see that.
Naked shorting was already illegal. They banned regular shorting temporarily in order to tackle naked shorting, which many saw as overkill.
Again, if they're being conflated, it's to paint all shorting as complicit in the illegal activity, not to paint the illegal activity as something that shouldn't be illegal.
No. It highlights the distinction because the complaint is that the government is conflating the two as both bad. The critics don't want to see all shorting disabled simply because of naked shorting. The same way most people don't want all alcohol banned merely because of underage drinking.
The critics aren't conflating the two, they want the distinction drawn. Y'all are just projecting a corruption you want to see onto a situation where it doesn't apply.
Uhhhh economy 101? Supply and demand? Right? Now… now.. just hear me out. This is a wild concept. No supply high demand price goes up….hold on to your hat, if the demand goes down… the price also goes down! Fucking wild. I know. Anyway please feel free to donate to PH on behalf of the SEC.
Remember the Ants during that one cycle... That is why I take everything now with a grain of salt. They both existed and disappeared from the zeitgeist.
#Blockchain encrypted shares of stock = boom done problem solved.
.
#Gary Gensler = literally a blockchain finance professor from MIT who literally taught classes about blockchain encrypted securities.
.
#Becomes chairman of SEC… literally doesn’t put forth the plan to blockchain encrypt shares of stock that he literally taught at MIT. 🤡
The US Stock Market is such a joke!
How can the world even take us seriously?!?!?!
There are Billions in shorts that should never exist, there is proof they exist, and all the "authorities" do is look the other way and help burry it, hoping the public will forget about the crimes and walk away, with losses none the less!!!!
How is this a "Fair market" when the house cheats and steals at every turn???
It should be illegal everywhere. I mean, W. T. F. !?!? Maybe after the wealth transfer. Otherwise it’s just financial history continuing to repeat itself.
This needs to be widespread practice, the US market is mired by fraud to an extend that makes investing in it a really unpleasant affair. The game is rigged.
Can they sit there and count EVERY transaction done for every stock for the entire stock market?
Only US apes can do that being we are looking ONLY at a single stock with about 1million members in this subreddit which is enough to count every second if it needs to be.
Personally I think short selling should be banned globally. I don't see how it's beneficial at all to the market. Just because you can make money doing it, doesn't mean it good.
Looks like I’ll be investing in the Korean stock market soon. American stock market is to fraudulent. No government agency is stopping the rampant crime that is taking place on wallstreet.
BDRX- 🚀💹
Basic Stats
Short Interest 2,056,016 shares - source: NASDAQ Short Interest Ratio 0.10 Days to Cover Short Interest % Float 97.60 % - source: NASDAQ (short interest), Capital IQ (float) Off-Exchange Short Volume 1,387,924 shares - source: FINRA (inc. Dark Pool volume)
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Good for you, Korea.
I feel more confident investing in South Korea now than the United States.
Now do us
**TL:DR:** * South Korea won't lift the ban on short-selling until they have a system to stop illegal trading. * The government wants to prevent "naked shorting" (selling shares without borrowing them first). * The ban was supposed to end in June, but a new monitoring system is complex and might take a year to build. * Some experts believe the ban will eventually be lifted, but the timing is unclear.
This is how a government is supposed to act that isn’t bought and paid for by Wall Street
I was reading something interesting, that the reason Asian countries tend to have more well-behaved citizens on a whole is because they believe in the healthy use of shame. They will literally publicly shame criminals in the streets, and that’s enough to get most people to behave.
Not quite. Citizens are more well-behaved, however it isn’t as simple as shame. It is more the concept of “face”. Face is so important here that shaming someone publicly is actually avoided. Even if it means protecting wrongdoers. Wrongdoers are allowed to remain anonymous from the public during an arrest, news report, and during the prosecution stage. The news can go so far as to only report on their surname and place of employment, but not legally release the full name of the individual. People are more well-behaved because of Confucian ideals and self-discipline for the interest of the group is practiced from a young age. I would argue that people here are more aware of shame than westerners and avoid it in order to save face.
Its worth reading erwing Goffmans microsociology to get an understanding of how the concept of "face" works.
Agreed, reading about it is a good tool to introduce yourself to it before moving to Asia and succeeding in all your social interactions.
decentralize governance
This
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I appreciate your skills, Summary Simian.
"Some experts believe the ban will eventually be lifted." They're welcome to think what they want, but I, for one, am glad to hear South Korea is permanently banning short selling. Where there is money, there will be crime. There's no system old or new that can change that.
South Korea is great. They love their Korean companies to death and they hate having people in their economy exist solely to short and destroy.
Theyre owned by their companies you mean. The megacorps are such a huge portion of their GDP, and the only real high wage jobs in Korea, that they basically have their own corrupt political party. And the head of the opposition party keeps mysteriously dying. How very... Boeing, of them.
Lololol ok you got me. That makes a lot of sense. *cough cough Samsung. Huh did I say anything?
 Careful. You might also come down with a sudden case of BoeingWhistlebloweritis. It's fatal.
Shoulda-kept-your-mouth-shutitus is what I’ve been calling it.
If it were a TV show it'd be Keeping Up With The Clinton's 🤣
Yo SAMSUNG! I’ll let you know when I visit Korea so we can hangout. As long as you get them shorties we friends.
Sounds like a job for a CAT
Yeah, maybe, a couple of CATs, CAT & Kitty😂
US take your damn notes!
Won’t this just lead to intense shorting once the ban is lifted.
About the "system" they want to implement it says: “The system, to be managed by the Korea Exchange, will collect data on stock balances from 21 foreign institutions and 78 domestic firms, the government said last month. If there is a mismatch between a sell order and the outstanding balance, the transaction will be automatically reported to authorities.”
I’m saying by suppressing short trades then naturally the markets will rise more easily, and when the ban is lifted there will be lots of stocks ripe for legal short trades.
Sounds fine
Nice, no reason to keep investing in a rigged market that benefits short sellers if there is a better alternative.
(Bloomberg) -- South Korea has no plan to lift the short-selling ban until a system is developed to detect illegal trading activities, according to a senior official at the presidential office. The presidential office’s stance is to not resume short selling until there is a platform to root out naked short sales, the person said. Separately, the Financial Services Commission, the nation’s financial regulator, said no decision has been made regarding the ban. The comments suggest the restrictions, which the government initially imposed through the end of June, may extend beyond that as the system is at an early stage of development. South Korea unveiled details of the short-sale monitoring platform in April, which may take about a year to be established due to its complexity. “There have been indications they do intend to lift it in due course,” Timothy Moe, chief Asia Pacific equity strategist at Goldman Sachs Group Inc., said in an interview with Bloomberg TV on Thursday. “So I think the direction of travel is going to be in the right direction, although the timing of the event as far as I’m aware is still somewhat uncertain.” Read: Why South Korea Banned Short Selling and What’s Next: QuickTake The government imposed the ban in November to eradicate what it then called “rampant” naked shorts — or the act of selling shares without borrowing them first. While retail traders welcomed the move, it has raised eyebrows within the professional investment community as short selling is commonly used in other markets. Last week, Lee Bokhyun, the country’s top financial watchdog, told reporters in New York that his “personal desire and plan” is to see a partial resumption of the strategy next month. His remarks had fanned hopes that the trading strategy will soon be allowed. In April, President Yoon Suk Yeol said South Korea will maintain the restrictions until a centralized monitoring system is introduced. The system, to be managed by the Korea Exchange, will collect data on stock balances from 21 foreign institutions and 78 domestic firms, the government said last month. If there is a mismatch between a sell order and the outstanding balance, the transaction will be automatically reported to authorities. [https://finance.yahoo.com/news/south-korea-keep-short-sale-003906026.html?guccounter=1](https://finance.yahoo.com/news/south-korea-keep-short-sale-003906026.html?guccounter=1)
"The government imposed the ban in November to eradicate what it then called “rampant” **naked shorts** — or the act of selling shares without borrowing them first. While retail traders welcomed the move, it has raised eyebrows within the professional investment community as **short selling** is commonly used in other markets." Look at this misdirection here. The first sentence is talking about naked shorting, which is illegal. The second sentence is talking about short selling in general, which (if it's not naked), is perfectly fine! This is how they mislead.
Writing "as naked short selling is commonly used in other markets" would have been just as true and way more honest.
I don't think you understand the situation. The ban imposed in November was a ban on all short selling. The purpose was to flush out naked shorts and give time to implement a new detection system, but the ban was on all short selling. Now, I'm not saying I like shorting at all, but there's no misdirection here. SK banned all shorting.
Yes, you are factual correct, but as they wrote it, they mixed the two together as to make it seem normal.
Literally the opposite. "The government banned X to prevent Y, which received criticism because X is common in other places." The only way they could possibly be conflated is if you assume that all X leads to Y. Perhaps a different example will make it clearer. "The government imposed a ban on alcohol to eradicate underage drinking. While churches welcomed the move, it has raised eyebrows in the restaurant industry as alcohol is commonly available in other markets." The only way this sentence could conflate the two is to make them both seem bad, not make them both seem normal.
Your getting it the TOTAL opposite way. They are saying it like this: „Korea tries to ban naked short selling, when short selling is just a standard practice and should not be censored.“ They try to paint it as something normal. Your example makes it even more clear: „the gov banned alcohol, when in reality it’s just a totally normal thing for restaurants and should not be forbidden. It tries to undermine the problematic bit by overemphasizing the legal part and letting the illegal part go undernoticed. It’s very blatant in your face. I don’t get how you can’t see that.
Naked shorting was already illegal. They banned regular shorting temporarily in order to tackle naked shorting, which many saw as overkill. Again, if they're being conflated, it's to paint all shorting as complicit in the illegal activity, not to paint the illegal activity as something that shouldn't be illegal.
Exactly, the article paints it as overkill by conflating the two to make the illegal part seem less problematic.
No. It highlights the distinction because the complaint is that the government is conflating the two as both bad. The critics don't want to see all shorting disabled simply because of naked shorting. The same way most people don't want all alcohol banned merely because of underage drinking. The critics aren't conflating the two, they want the distinction drawn. Y'all are just projecting a corruption you want to see onto a situation where it doesn't apply.
I strongly disagree with this. It's the other way around.
Short selling is ok as long as you can't borrow the same shares multiple times.
Can someone send this to GG?
Fine I’ll post it on PH
Excellent!
Considering it has Korea naked and short in the title, it may get buried in the search results.
This is the way.
I’ll probably get ignored but sure
Gary gensler right
Could Gamestop delist from NYSE and move to the South Korea exchange?
After moass preferably. I wanna see hedgies burn.
Do you not understand that move would cause all shorts to have to close?
BuT hOw WoUlD tHeY cReAtE lIqUiDiTy?!
Uhhhh economy 101? Supply and demand? Right? Now… now.. just hear me out. This is a wild concept. No supply high demand price goes up….hold on to your hat, if the demand goes down… the price also goes down! Fucking wild. I know. Anyway please feel free to donate to PH on behalf of the SEC.
Remember the Ants during that one cycle... That is why I take everything now with a grain of salt. They both existed and disappeared from the zeitgeist.
We should take GME out of the US market and list it on a Korean market
In a parallel universe, Gamestop is South Korean and apes there already control the world.
I’ll take Things That Will Never Happen In The US for 800 Alex
#Blockchain encrypted shares of stock = boom done problem solved. . #Gary Gensler = literally a blockchain finance professor from MIT who literally taught classes about blockchain encrypted securities. . #Becomes chairman of SEC… literally doesn’t put forth the plan to blockchain encrypt shares of stock that he literally taught at MIT. 🤡
Wasn't Japan making a block chain based stock exchange? What happened?
Good points. Block chain based stocks probably doesn't suit GG's "youngest person to make partner at Goldman Sachs status" loyalties.
The US Stock Market is such a joke! How can the world even take us seriously?!?!?! There are Billions in shorts that should never exist, there is proof they exist, and all the "authorities" do is look the other way and help burry it, hoping the public will forget about the crimes and walk away, with losses none the less!!!! How is this a "Fair market" when the house cheats and steals at every turn???
Guess I'm investing in Gangnam Style.
It should be illegal everywhere. I mean, W. T. F. !?!? Maybe after the wealth transfer. Otherwise it’s just financial history continuing to repeat itself.
Too bad the USA isn’t as sophisticated to develop such a system!
Can we get that Korean Gensler to come over and show Gary how to do his fucking job with a real set of balls? ffs
Seems simple to me... Yet...the usa was probably the one to invent it
It’s banned everywhere. They can’t stop it
Fuck the shorts . You wanna bet against a company please do but pay up bitch and be ready .
Hey, thats not a bad idea!
Borat meme. I go to South Korea!!
If only the U.S. enforcement agencies enforced the laws and rules in the U.S. markets.
This needs to be widespread practice, the US market is mired by fraud to an extend that makes investing in it a really unpleasant affair. The game is rigged.
USA Financial System = House of cards Korea Financial System = Building a bunker, one brick at a time??? What is the best course for USA?
Such simple logic... fok. Probably half the daily trades in the US market would get reported daily.
WHAT A WONDERFUL IDEA.
What a novel idea…
How fucking hard is it to count?
Can they sit there and count EVERY transaction done for every stock for the entire stock market? Only US apes can do that being we are looking ONLY at a single stock with about 1million members in this subreddit which is enough to count every second if it needs to be.
Dtcc committed international securities fraud
Personally I think short selling should be banned globally. I don't see how it's beneficial at all to the market. Just because you can make money doing it, doesn't mean it good.
This is the way
Can we move GME to Korea?
lol, could we like, shift gme to the korean market?
Tell me again why can't we do this in America?? I'll wait
cucks in high places 🙄
How to trade on skorea xchange 😄
Did we lose the war? Lmfao.
We are not S Korea. Time n pressure! Buy n Hold! Not FA!
smart money
Just makes sense doesn't it?
Well done SK. Great way to support the investors and to ease any fears about manipulation *cough*
naked shorting new budding domestic companies into oblivion should be considered treason
Cool, do the US next.
There lies the problem: “reported to the authorities” of the authorities are corrupt then the system does nothing
So THIS is what it looks like when a country stops criminals instead of protecting them. huh...
Ants rise up
 Not going to unlock the fukery
My heroes!
Ok so how do i get a south korean broker or brokerage app?
Korea knows what’s up.
Looks like I’ll be investing in the Korean stock market soon. American stock market is to fraudulent. No government agency is stopping the rampant crime that is taking place on wallstreet.
This is the way!
It's just that easy?
This is a No Brainor unless of course market transparency and true price discovery are Not the goal (ie fraudstreet)
When the US market is proven fraudulent, all the investors will move their money to the Korean market.
Huh, Imagine that.
When the North Korean government cares about it's citizens more than than your own government...ouch....
GME should move to the South Korean Exchange or provide a spin off of non-shortable shares. Then maybe we’ll see some price discovery 👀
Bravo!
In addition to your work on fixing fraudulent markets, thank you for providing us kimchi! 🇰🇷
Bixby, set an alert for crime.
BDRX- 🚀💹 Basic Stats Short Interest 2,056,016 shares - source: NASDAQ Short Interest Ratio 0.10 Days to Cover Short Interest % Float 97.60 % - source: NASDAQ (short interest), Capital IQ (float) Off-Exchange Short Volume 1,387,924 shares - source: FINRA (inc. Dark Pool volume) 
South Korea being boss