Lee Jae-myung Acknowledges Shortcomings of Single-Leveraged ETFs, Does Not Apologize for Losses

South Korean President Lee Jae-myung acknowledged that the single stock leveraged exchange-traded funds (ETFs) launched earlier this year have shortcomings. At a press conference, he stated that these products were introduced just as the stock market was nearing the end of its upward trend, and the subsequent market reversal caused significant losses for investors. Lee did not apologize for this and did not specify who was responsible for the decision-making regarding the related policies. This policy had previously sparked strong dissatisfaction and backlash from investors.

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