President Lee Jae Myung on Wednesday called for prompt complementary measures on recently introduced single-stock leveraged ETFs, which have been blamed for increasing stock market volatility.
President Lee Jae Myung made the remarks while receiving policy briefings from economy-related government ministries and agencies at the presidential office of Cheong Wa Dae.
Single-stock leveraged ETFs were introduced in May and track the daily performance of Samsung Electronics Co. and SK hynix Inc. The two companies account for roughly half of the Korea Composite Stock Price Index's total market capitalization.
Top policymakers, including Finance Minister Koo Yun-cheol, have voiced concerns over the side effects of the ETFs and pledged to draw up complementary measures to address related problems and better protect investors.
