Posted : 2021-02-03 19:59 Updated : 2021-02-03 21:23 Financial Services Commission Chairman Eun Sung-soo, speaks during a press briefing at the Seoul Government Complex in Gwanghwamun, Wednesday. Yonhap 'Outright abolishment not an option given foreign, institutional investors make up 80% of the market' By Lee Kyung-min The Financial Services Commission (FSC) said Wednesday that it will extend a ban on short-selling until May 2, 90 days longer than its scheduled expiration date of March 15. The move is seen as a much-rushed measure designed to placate retail investors seeking collective action to vote in non-ruling party figures in the upcoming April mayoral by-election. Starting May 3, short-selling will be allowed for shares of the top 200 companies on the benchmark KOSPI and those of the top 150 firms on the secondary Kosdaq. They account for a respective 22 percent of 917 KOSPI-listed companies and 10 percent of 1,470 KOSDQ-listed ones. Shares of other less frequently traded companies will be permanently banned for short-selling.