President Yoon Suk-yeol announced on Thursday while receiving the first government policy report of the year that the country’s ban on stock short selling will remain in place until the government has resolved the harmful effects of short selling on retail investors. Yoon dismissed speculations that the ban, initially set to last until June, would be lifted after the general elections.

The Financial Services Commission announced the short-selling ban in November, explaining that the move sought to curb stock market volatility and ensure market stability and fair pricing. The short-selling ban is part of the government’s broader crackdown on illegal short-selling activities by global investment banks.