The Korea Exchange explained on the 18th that the disruptions caused by a system error during trading were related to a transaction issue concerning Tongyang Steel Pipe.
According to the exchange, delays in the transaction execution system for KOSPI market stocks occurred from 11:37:07 a.m. Until 11:44:16 a.m., the exchange's execution system was restored and quotes were received normally; however, the refusal of quotes for Tongyang Steel Pipe continued.
Tongyang Steel Pipe was suspended from trading starting at 12:05 p.m. As a result, the stock price of Tongyang Steel Pipe, which had increased by 19.4% (167 won) to 1,028 won the previous day, remained halted for over two hours.
The Korea Exchange has not yet determined the cause of the issue related to Tongyang Steel Pipe. An exchange official noted, "Currently, all stocks except for Tongyang Steel Pipe are trading normally," and added, "Trading for Tongyang Steel Pipe will resume as soon as the cause has been identified."
An exchange official further stated, "We deeply regret the inconvenience caused to investors due to the system failure," and added, "We will take all possible measures to stabilize the system and prevent a recurrence."